Earnings

Kohl’s sees holiday-quarter revenue down 10%, but sales strengthening

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A view outside a Kohl’s store in Miramar, Florida.

Johnny Louis | Getty Images

Kohl’s CEO Michelle Gass said the retailer got a boost at the end of the holiday quarter thanks, in part, to the influx of shoppers coming to its stores to make Amazon returns.

The department store chain on Thursday said it anticipates fiscal fourth-quarter revenue to be down about 10% year over year, and same-store sales to drop 11%, but sales have been gaining momentum in recent weeks. Analysts had been calling for a revenue decline of 8.9%, according to a poll compiled by Refinitiv.

“You could assume that returns, which typically are higher in January, played a role in driving traffic toward the end of the…



Source cnbc.com

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