Being able to stay afloat in the treacherous retail current of today only seems to be more and more difficult for struggling brands. It isn’t new for many that have weathered that storm for months now, but few are currently finding reason to be optimistic compared to that past time.
Certainly fitting that mold, Kohl’s hasn’t been able to bring positive news regarding their stock without negativity being coupled along with it. That much remains to be the case with the release of the retailer’s Quarter 1 results: a mixture of both encouraging and discouraging news.
On the plus side, KSS did see their income for the recent quarter rise to $66 million, 39 cents per share, compared to $17 million in the same quarter one year prior. The wide gap created within a year’s time is, in part, attributable to impairment charges from store closings totaling $64 million at that time, leaving the actual growth of the figure skewed for reference and comparative purposes.
Contrasting that growth further were losses in total sales and comparable store sales for Kohl’s. The former statistic fell 2.7 percent, following a similar decrease of 2.2 percent the quarter prior.
For total sales, the impact was felt with a 3.2 percent drop, bringing the resulting total sales to $3.84 billion currently. Not only was this a decline from Q1 2016’s total of $3.97 billion, but also stands as the fifth consecutive quarter where Kohl’s saw this occur.
Righting the ship has been difficult for the brand, though they’re not the only ones to be at the mercy of changes in evolving consumer retail habits. Nevertheless, this most recent quarter brought little to be desired for Kohl’s, who will hope to break their streak of sales losses in Q2 2017.