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Article: Kohl's quarter profits rise 21%; Estee Lauder, Chaps brands aid growth of sales
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- May 13, 2005
- Author:
CopyrightCopyright 2005 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Kohl's Corp. said first-quarter profit climbed 21%, helped by
sales of cosmetics from Este Lauder and the new Chaps line of men's
clothing.
But the results didn't satisfy Wall Street, which expected the
Menomonee Falls department store chain to earn a penny more a share.
Kohl's said net income rose to $124.7 million, or 36 cents a
share, from $103.1 million, or 30 cents, a year ago. Sales increased
15% to $2.7 billion from $2.4 billion. Sales in stores open at least
12 months rose 3.7%.
Chief Operating Officer Arlene Meier said Kohl's would have needed
a 4% gain in same-store sales to hit analysts' earnings target of 37