Kohl’s Corporation (NYSE:KSS) today reported its third quarter financial results for the period ended October 31, 2020.
Third quarter GAAP net loss was $12 million, or $0.08 per share, compared to GAAP net income of $123 million, or $0.78 per share in third quarter of 2019.
Total revenues decreased 14% to $3.97 billion.
“I continue to be very proud of how our organization is navigating through the COVID-19 pandemic. Our third quarter results exceeded our expectations with significant sequential sales and profitability improvement. Digital sales growth remained strong and our actions to improve our gross margin showed great progress. We also further strengthened our financial position and fully repaid our revolver during the period, which underscores the solid cash flow generation of our business.”Michelle Gass, CEO
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