UPDATE: Kohl's Posts Upbeat Q4 Profit, Issues Weak Forecast
Kohl's (NYSE: KSS) reported a decline in its fiscal fourth-quarter profit.
Kohl's quarterly profit dropped to $378 million, or $1.66 per share, versus $455 million, or $1.81 per share, in the year-ago period.
Its sales climbed 5.4% to $6.34 billion, while comparable store sales increased 1.9%. However, analysts were expecting earnings of $1.64 per share.
Kohl's expects Q1 profit of $0.55 to $0.63 per share and full-year profit of $4.15 to $4.45 per share. However, analysts expected a profit of $0.65 per share for the first quarter and $4.48 per share for the year.
Kohl's also lifted its quarterly dividend by 9% to $0.35 per share.
Kohl's shares closed at $46.61 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.