86 083
Fashion Jobs
FOOT LOCKER
Director of Safety (Supply Chain)
Permanent · CAMP HILL
LEE
PT Keyholder, Estero, FL
Permanent · ESTERO
URBN
Free People: Merchandise Planning Manager
Permanent · PHILADELPHIA
URBN
Free People: Senior Merchandise Planner
Permanent · PHILADELPHIA
KOHLS
Operations Supervisor - Weekend Overnights
Permanent · EDGEWOOD
KOHLS
Full-Time Loss Prevention Officer
Permanent · SOUTH BURLINGTON
ADIDAS
Key Account Manager: Athletic Footwear
Permanent · PITTSBURGH
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · GOSHEN
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · NAPLES
KOHLS
Shift Leader/Operations Manager - Weekend Night Shift
Permanent · PATASKALA
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader (Part-Time) - us
Permanent · POOLER
AMERICAN EAGLE OUTFITTERS
ae - Merchandise Leader (Part-Time) - us
Permanent · MURFREESBORO
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader - us
Permanent · KAPOLEI
NAVY EXCHANGE
Buyer (Level i) - Beauty Care
Permanent · VIRGINIA BEACH
NAVY EXCHANGE
Buyer (Level i) - Pet
Permanent · VIRGINIA BEACH
GAP INC.
Asset Protection Service Representative - Harlem Usa
Permanent · NEW YORK
GAP INC.
Asset Protection Coordinator - Mount Vernon Plaza
Permanent · ALEXANDRIA
BANANA REPUBLIC
Associate Art Director, Photo Studio
Permanent · SAN FRANCISCO
ECCO
Third Keyholder
Permanent · SAN FRANCISCO
ECCO
Third Keyholder
Permanent · BLUFFTON
ECCO
Third Keyholder
Permanent · SEATTLE
ECCO
Third Keyholder
Permanent · SANTA CLARA
By
Reuters
Published
Nov 17, 2020
Download
Download the article
Print
Text size

Kohl's posts bigger-than-expected decline in same-store sales

By
Reuters
Published
Nov 17, 2020

Kohl's Corp posted a bigger-than-expected decline in quarterly same-store sales on Tuesday, as lower traffic at department stores due to the COVID-19 pandemic hammered demand for footwear and apparel.


Reuters



The mid-priced chain’s shares, which have nearly halved in value this year, fell about 3% before the bell.

U.S. department stores, struggling to boost sales even before the pandemic, have had to offer heavy discounts and invest in their e-commerce business to keep pace with online-centric, off-price and deeper-pocketed big-box retailers.

Same-store sales at Kohl’s decreased 13.3% in the third quarter, even as Kohl’s said digital sales growth remained strong. Analysts on average had expected an 11.39% decline, according to IBES data from Refinitiv.

Net sales fell about 13% to $3.78 billion in the quarter ended Oct. 31.

Kohl’s reported a net loss of $12 million, or 8 cents per share, compared with a profit of $123 million, or 78 cents per share, a year earlier.

Excluding items, Kohl’s earned 1 cent per share, compared with the average analyst estimate of a loss of 43 cents, as it cut selling, general, and administrative expenses.

Kohl’s also said it plans to reinstate its quarterly dividend in the first half of 2021 after a COVID-19-led pause.

© Thomson Reuters 2024 All rights reserved.