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Kohl’s Reports Second Quarter Sales Slip

Kohl’s Corporation announced that its second quarter sales were $4.242 billion, as compared to $4. 289 billion for the second quarter in 2013, a decrease of 1.1%. Comparable store sales were down 1.3% in the second quarter. For the year to date, sales were $8.312 billion, compared to $8.488 billion in 2013, a decrease of 2.1%.

Despite the numbers, Kevin MansellKohl’s chairman, president and CEO, said, “We are pleased with the improvement we saw in sales as the quarter progressed. The improvement was the most dramatic in the month of July where we achieved a positive comp. As they consistently do, our teams did a great job of managing expenses throughout the quarter. We enter the back-to-school season with fresh, new inventory and encouraging momentum.”

Kohl’s ended the quarter with 1160 stores in 49 states, compared with 1155 stores at the same time last year. The company opened four new store locations, relocated one existing store and permanently closed two stores during the first quarter of 2014. It expects to open four new stores this fall, including one store which was temporarily closed in the first quarter for a complete re-build, the company announced.