Kohl's offers mixed picture for holiday quarter
By ANNE D'INNOCENZIO AP Retail Writer
NEW YORK (AP) — Kohl's Corp. delivered a better assessment of fiscal fourth-quarter earnings, but a key sales measure was down more than analysts expected.
Online sales grew more than 20%, and accounted for over 40% of net sales during the period, Kohl said.
Kohl's CEO Michelle Gass says in a statement that the earnings results were boosted by its managing expenses tightly. She also noted that initiatives like its recent partnership with beauty chain Sephora should help drive sales.
In December, Kohl's announced it would replace its cosmetic areas with Sephora, starting with 200 locations this fall. It will expand to at least 850 stores by 2023.