May 11 (Reuters) - 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 Savio D‘Souza)