American retailer Kohl’s achieves Q3 sales of $4.6 bn; raises outlook

Kohl’s Corp, a US-based leading omnichannel retailer, has reported a 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the sales of $3.9 billion in the same period of previous fiscal. Achieving strong Q3 results has […]


Kohl’s Corp, a US-based leading omnichannel retailer, has reported a 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the sales of $3.9 billion in the same period of previous fiscal. Achieving strong Q3 results has led the company to raise its full year outlook and it expects sales to grow in mid-twenties percentage (previous expectations: low twenties) compared to FY20.

 

Kohl’s Corp, a leading omnichannel retailer, has posted 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 over to the sales of $3.9 billion in the same period of previous fiscal. With strong Q3 results, Kohl’s has raised its FY21 outlook and expects sales to grow in mid-twenties percentage (earlier: low twenties) compared to FY20.

“Our strategic efforts to transform Kohl’s into the leading destination for the active and casual lifestyle continue to build momentum. We delivered another quarter of record earnings with both sales and margins exceeding expectations,” Michelle Gass, Kohl’s chief executive officer, said in a press release.

 

Kohl’s Corp, a leading omnichannel retailer, has posted 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 over to the sales of $3.9 billion in the same period of previous fiscal. With strong Q3 results, Kohl’s has raised its FY21 outlook and expects sales to grow in mid-twenties percentage (earlier: low twenties) compared to FY20.

“During the quarter, we drove accelerated growth in Active and successfully launched several new brand partnerships, including the initial rollout of 200 Sephora at Kohl’s stores, which are off to a great start,” Gass continued.

 

Kohl’s Corp, a leading omnichannel retailer, has posted 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 over to the sales of $3.9 billion in the same period of previous fiscal. With strong Q3 results, Kohl’s has raised its FY21 outlook and expects sales to grow in mid-twenties percentage (earlier: low twenties) compared to FY20.

The American active and casual lifestyle retailer’s operating income for the three-month period recorded a multifold jump to $387 million (Q3 FY20: $22 million), while net income expanded to $243 million (loss: $12 million).

 

Kohl’s Corp, a leading omnichannel retailer, has posted 15.6 per cent sales growth to $4.6 billion in the third quarter (Q3) of FY21 over to the sales of $3.9 billion in the same period of previous fiscal. With strong Q3 results, Kohl’s has raised its FY21 outlook and expects sales to grow in mid-twenties percentage (earlier: low twenties) compared to FY20.

“All of the pieces of our strategy are coming together and we remain incredibly confident in the future of our business. We are raising our full year 2021 guidance and continue to accelerate our share repurchase activity, reinforcing our commitment to driving shareholder value,” Gass concluded in the release.

Fibre2Fashion News Desk (JL)

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