Retail chain Kohl’s on Tuesday reported quarterly growth consistent with other major companies in the industry, despite inclement weather in key markets.
Kohl’s announced a 3.6 percent increase in net sales to $3.9 billion for the quarter that ended on May 5, marking it the third consecutive quarter of growth for the Menomonee Falls, Wis.-based retailer.
Newly appointed chief executive Michelle Gass said the company adjusted its operations amid severe weather in the Northeast and mid-Atlantic markets.
“The organization proactively leaned into less seasonably dependent categories,” she told investors. “This strategy along with our digitally forward, agile approach to marketing allowed us to deliver strong sales results for the quarter.”
Gass said the retailer would soon launch an apparel line with PopSugar, a digital media company with a focus on millennial women, as well as partnerships with the Lego Group and FAO Schwarz. Kohl’s will also continue its partnership with Amazon as a physical hub for orders returns to the e-commerce giant.
Kohl’s is the latest retail to announce a year-over-year earnings growth for the first part of 2018. The company’s net income rose 62 percent to $107 or 64 cents a share.
The retailer on Tuesday named Doug Howe as chief merchandising officer. Howe was formerly with the Qurate Retail Group, a conglomerate that includes QVC and the Home Shopping Network.
