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Kohl's spikes as comp sales beat


It was expected that 135.8 million Americans would shop this Black Friday weekend, according to the National Retail Federation.


Kohl's and rivals such as Macy's Inc and J.C. Penney Co Inc have been struggling with declining mall traffic and tough online competition.


In response, they have been cutting costs by closing stores, selling or leasing their real estate and keeping a tight leash on inventory.


The company had recorded charges of $128 million related to impairments and store closures in the comparable quarter.


Analysts on average had expected an adjusted Profit of $1.19 per share and revenue of $4.13 billion, according to Thomson Reuters I/B/E/S.




READ MORE (Business Insider)


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This post first appeared on The 5th News, please read the originial post: here

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