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Kohl’s Mansell ‘Pleased’ With Second Quarter Results

Kohl’s reported its sales for second quarter, and year-to-date ended August 3, 2013, were up 2%, at $4,289 million compared to $4,205 million for the same quarter last year. Kohl’s sales year to date saw an increase of .5% with sales at $8,488 million compared to $8,447 in 2012.

Kevin Mansell, Kohl’s chairman, president and CEO said, “We are pleased with our progress in the second quarter. Sales improved significantly over the first quarter and our gross margin improved over last year. Expenses were well-managed and we ended the quarter with inventory per store up mid-single digits while funding our e-commerce growth. I would like to thank each of our associates for their contribution to our results.”

Kohl’s ended the quarter with 1,155 stores in 49 states, compared with 1,134 stores at the same time last year. The company opened nine new stores during the first quarter of 2013 and expects to open three new stores and remodel 30 stores in the fall, according to the retailer.