Kohl’s reported its fiscal third-quarter earnings on Tuesday, and they were lower than last year’s, but the company remains hopeful of a turnaround.
Sales decreased 2.8% over the same period to $3.4 billion. Net income was $8 million, which was $22 million in the previous year.
In spite of a drop in sales, Kohl’s CEO Michael Bender, hired on Sunday after seven months in the role on an interim basis, is looking forward positively.
“We are pleased with Kohl’s third quarter results, marking a third consecutive quarter of delivering top-line and bottom-line performance ahead of our expectations,” Bender said in a statement.
“These results are a direct reflection of the progress we are making against our 2025 initiatives, reinforcing our confidence as we continue to move in the right direction. We are focused on building on this momentum, as we remain committed to delivering quality products, great value, and a frictionless experience to our customers in an uncertain macroeconomic environment.”
