May 22, 2018 / 11:10 AM / 6 months ago

Kohl's reports higher quarterly profit

May 22 (Reuters) - U.S. department store chain Kohl’s Corp reported a 13.6 percent increase in quarterly profit on Tuesday, as efforts to cut back on discounts and maintain a leaner inventory paid off.

Kohl’s said net income rose to $75 million or 45 cents per share in the first quarter ended May 5, from $66 million or 39 cents per share a year earlier.

Sales at Kohl’s stores open for at least 12 months climbed 3.6 percent, compared with the 2.7 percent increase expected by analysts on average, according to Thomson Reuters I/B/E/S.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar

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