Kohl's fourth quarter profit rises

Thursday, February 25, 2010

Kohl's says its profit climbed as the department store chain controlled inventory levels and enjoyed solid holiday sales during its fiscal fourth quarter.

Earnings in the period ended Jan. 30 rose 28 percent to $431 million, or $1.40 per share. Sales increased 9 percent to $5.68 billion.

The performance topped analysts' forecasts for profit of $1.37 per share on revenue of $5.67 billion.

Kohl's Corp. stuck with planned promotions and didn't have to use deep discounts during the holiday season. It also capitalized on exclusive brands and gained market share from the closures of competitors like Mervyn's.

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