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Kohl’s posts 2.6% net revenue increase for Q3 in 2012

RBR Staff Writer Published 12 November 2012

US department store chain Kohl's has posted net revenues of $4.5bn, an increase of 2.6% for the third quarter of 2012 when compared to the corresponding period of 2011.

The company also reported an increase in net income to $215m for the quarter ended 27 October 2012 while comparable store sales increased 1.1% for the period.

Year-to-date net income stood at $609m quarter while year-to-date comparable store sales fell by 0.5%.

Commenting on the developments Kohl's chairman, president and chief executive officer, Kevin Mansell said that the sales performance of the retailer in the third quarter was consistent as per their expectations.

"We have made noticeable investments in Holiday inventory - both in depth and content - and the in-store experience. Our stores are festive and fun to shop. We are also very excited about our expanded gift strategy and our ability to offer great products at great values," added Mansell.

Khol's opened 21 new stores this fiscal, includes store relocation and closing one store while remodeling of 50 other; taking its chain count to 1,146 at the end of Q3 in 2012.