Kohl’s Has Mixed Q3, Misses Profit Estimates With $20 Million Net Loss

Kohl’s reported Q3 revenue of $4.33 billion, a 0.1% year-over-year increase, while same-store sales also climbed 0.1%, a much-improved performance from the 1.7% decline seen in Q3 2016.

The comparable sales growth is important given that Kohl’s had seen six straight quarters of declines, and Wall Street had predicted a seventh. Yet in the midst of the good news, the department store saw a net income decrease of 20% to $117 million, with an increase in merchandising expenses taking some of the blame.

As longtime CEO Kevin Mansell prepares for his departure from the company in…