15 May Kohl’s Sees Modest Q1 Earnings Gain
Kohl’s Corp. reported first-quarter earnings increased 1.6 percent to $127 million, or 63 cents a share, from $125 million, or 60 cents, a year ago. Same-store sales grew 1.4 percent.
Kevin Mansell, Kohl’s chairman, chief executive officer and president, said, “Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February. We are very pleased with our earnings results, with a more balanced promotional calendar driving merchandise margin combined with strong expense control.”
Dividend
On May 13, 2015, Kohl’s Board of Directors declared a quarterly cash dividend on the Company’s common stock of $0.45 per share. The dividend is payable June 24, 2015 to shareholders of record at the close of business on June 10, 2015.
Store Update
Kohl’s opened two new stores during the quarter. The company now operates 1,164 stores in 49 states, compared with 1,160 stores at the same time last year.