MENOMONEE FALLS, Wisc.–Kohl’s reported top and bottom-line declines for the fourth quarter ended Jan. 31, although bedding and small electrics were bright spots in home, Kevin Mansell, Kohl’s president and chief executive officer, said during a conference call.
Kohl’s net income fell 18 percent to $336 million. Sales dropped 4.6 percent to $5.2 billion. Comparable store sales decreased 9.1 percent.
“Despite the sales results, we delivered improved merchandise margins through strong inventory management and successful exclusive brand strategies,” Mansell said, in a statement.
“We expect 2009 to be just as challenging from a macro-economic perspective. We are planning conservatively in our sales expectations, inventory levels and expenses.”