Kohl's reports mixed 4Q results but offers upbeat outlook
Posted: Mar 2, 2021 9:46 AM CDT
By ANNE D'INNOCENZIO AP Retail Writer
NEW YORK (AP) — Kohl's reported mixed results for its fiscal fourth quarter, delivering a 30% increase in profits but a 10% drop in sales. The results announced Tuesday handily beat Wall Street estimates.
The Menomonee Falls, Wisconsin-based department store chain also issued per-share forecast for this year whose top range beat analysts' expectations.
The earnings report comes out as Kohl's is fighting back against an investor group's efforts to take control of the department store chain's board, arguing that it would derail its progress and momentum.