The momentum of the prior two quarters for Kohl’s continued into the first quarter of its current fiscal year as the retailer reported growth in top-line sales and comparable store sales.
Total revenue for the three months ended May 5 was $4.2 billion, up 3.5% from revenue of $4.06 billion in the comparable quarter the previous year. Comparable store sales for the quarter increased 3.6%. Net income was $75 million, up 14% from the prior year and diluted earnings per share were $.45, an increase of 15% over the prior year.
“We are very pleased with our strong start to fiscal 2018 as we continued to focus on our priorities of driving traffic and operational excellence,” said Michelle Gass, CEO of Kohl’s. “We built on our recent momentum and achieved our third consecutive quarter of positive comparable sales, which increased on both a fiscal and a shifted basis.”