August 21, 2018 / 11:10 AM / a month ago

Kohl's same-store sales growth tops estimates

Aug 21 (Reuters) - Kohl’s Corp reported a bigger-than-expected rise in quarterly same-store sales on Tuesday, as the department store chain sold more products at full price, helping boost margins.

Net income rose to $292 million, or $1.76 per share, in the second quarter ended Aug. 4 from $208 million, or $1.24 per share, a year earlier.

Sales at stores open for at least a year increased 3.1 percent, compared with a rise of 2.69 percent estimated by analysts, according to Thomson Reuters I/B/E/S.

Net sales were up 4 percent at $4.57 billion, rising for the fourth straight quarter.

Analysts on average had expected revenue of $4.26 billion, according to Thomson Reuters I/B/E/S. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva)

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