Feb 18, 2011

Posted by in Stock Reports | 1 Comment

KSS Stock

KSS

 

 

KSS Kohl’s Reports Positive Earnings

KSS Kohl’s Corp. second-quarter net income rose nearly 14 percent as the moderate-price department store chain continued to draw more shoppers from rivals for its exclusive fashions, but job worries are making customers spend less per visit.

KSS Stock trimmed the top end of its yearly outlook because of spending to improve its e-commerce business and expectations for slowing sales growth in the second half of the year amid an uncertain economy. Shares fell $1.28, or 2.7 percent, to $46.50 on the tepid outlook.

For Kohl’s middle-class customers, “the biggest challenge is jobs,” said CEO Kevin Mansell in an interview with The Associated Press following a conference call with investors Thursday. Even if they’re employed, “they’re worried about continued employment and they’re saving more,” he added. That’s not leaving much room in their budget to buy what KSS Kohls sells, he added.

Kohl’s said its net income rose to percent $260 million, or 84 cents per share. That compares with $229 million, or 75 cents per share, last year. Analysts expected 82 cents per share.

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