Kohl's Q1 net income rises on higher revenue
Menomonee Falls, Wis. Kohl's Corp. said Thursday its first-quarter net income rose 45% as shoppers spent more at its stores.
Kohl's said its net income rose to $199 million in the three months ended May 1, up from $137 million a year ago.
Revenue rose 11% to $4.04 billion, from $3.64 billion last year.
Same-store sales rose 7.4% in the quarter.
"Consumers appeared to be a little more confident in their spending, but remain focused on value and ways to make their dollars go farther," said CEO Kevin Mansell in a statement.
Kohl’s opened nine stores during the quarter, for a total of 1,067 stores in 49 states.