Department store chain Kohl’s Corporation (NYSE: KSS) reported a sharp fall in net income for the fourth quarter of 2024, hurt by a decrease in sales.
Net sales declined 9.4% year-over-year to $5.18 billion in the final three months of fiscal 2024. Comparable store sales dropped 6.7% in the fourth quarter.
Net income for the January quarter was $48 million or $0.43 per share, compared to $186 million or $1.67 per share in the year-ago quarter. For fiscal 2025, the management expects net sales to decrease by 5-7%. Full-year earnings per share are expected to be in the range of $0.10 to $0.60.
