Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
General Retailers
Department Stores
Return to: RBR Home | General Retailers | Department Stores

Kohl’s reports 2.5% decline in sales for FY2012

RBR Staff Writer Published 01 March 2013

US-based department store chain Kohl's has posted net sales of $19.28bn for the twelve months of the 2012 fiscal, ended 2 February 2013.

The sales represent an increase of 2.5%, vis-à-vis the figures posted for the 2011 fiscal.

Net income for the year totaled $986m for the year, while operating income for the year was down 12% to $1.89bn.

Kohl's chairman, president and chief executive officer Kevin Mansell noted that the sales for the fourth quarter picked up rather late and thereby affected the retailer's overall profitability.

"We were, however, able to end the quarter with levels of inventory appropriate for a strong transition to Spring. Our associates across the company did an excellent job in managing expenses throughout the year," added Mansell.

The retailer unveiled 21 new stores in the year while a store each was relocated and closed; 50 of Kohl's outlets were remodeled in the same period.

Kohl's, currently, operates 1,146 outlets in 49 states of the US.