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Kohl's reports 18% drop in quarterly profits

A Kohl's store on US Hwy 98, Hattiesburg By hattiesburgmemory (Kohl's  Uploaded by AlbertHerring) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
A Kohl's store on US Hwy 98, Hattiesburg By hattiesburgmemory (Kohl's Uploaded by AlbertHerring) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

MENOMONEE FALLS, WI (WTAQ) - The Wisconsin-based Kohl's Department Stores reported an 18 percent drop in its latest quarterly profits. 

The Menomonee Falls chain had a net income of $177 million from July through September, down from $215 million at the same time last year. Earnings fell from 91 cents a share to 81 cents -- a nickel below what outside analysts expected. 

Sales at Kohl's stores open for at least a year dropped 1.6 percent, after gaining just over one percent the previous year. 

Kohl's announced a quarterly dividend of 35 cents a share, to be paid Christmas Eve to shareholders on record December 11th. 

Kohl's also said it was planning a couple of new ventures next fall, when the IZOD men's clothing line will be added to its stores -- along with Juicy Couture female clothing, accessories, and home items.

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