By Daniella Parra
Kohl’s Corp. (NYSE:KSS) said regular price sales increased 2.4% in the first quarter.
Net sales decreased 5.3% year-over-year to $3,178 million in the quarter and the company had a loss of 24 cents per share against earnings of 13 cents posted in the year-ago quarter.
“Our first quarter results did not meet our expectations and are not reflective of the direction we are heading with our strategic initiatives,” said Tom Kingsbury, Kohl’s CEO. “Regular price sales increased year-over-year, with early success in underpenetrated categories, positive trends in our Women’s business, and continued strong growth in Sephora.”
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