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SMALL BUSINESS
Kohl's 2Q profit falls, but sales increase
AP ONLINE
posted: 103 DAYS 4 HOURS AGO
MENOMONEE FALLS, Wis. (AP) — Kohl's says its fiscal second-quarter profit dipped 3 percent on higher expenses. But the department store operator posted higher sales and raised its full-year earnings outlook.
The Menomonee Falls, Wis.-based retailer earned $229 million, or 75 cents per share, for the period ended Aug. 1. That's down from $236 million, or 77 cents per share, a year earlier.
Sales rose 2 percent to $3.81 billion, but same-store sales slipped 2.3 percent.
Analysts forecast profit of 74 cents per share on revenue of $3.79 billion.
Kohl's Corp. lifted its full-year profit forecast to a range of $2.59 to $2.70 per share. Its prior guidance was for earnings of $2.19 to $2.42 per share.
Analysts expect earnings of $2.78 per share.
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