May 11 Department store operator Kohl's Corp
reported a 14 percent jump in adjusted quarterly profit,
helped by higher traffic in stores in March and April and as a
leaner inventory helped it discount lesser.
Total net income soared to $66 million, or 39 cents per
share, in the first quarter ended April 29, from $17 million, or
9 cents per share, a year earlier.
The company had recorded a $64 million charge related to
impairments and store closures in the year-earlier quarter.
Excluding items, the company's profit was up 14 percent
year-over-year in the latest quarter.
Net sales dropped to $3.84 billion from $3.97 billion a year
earlier, declining for the fifth straight quarter.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by