Kohl’s Gets Boost from Active in Fourth Quarter
The mass retailer’s active segment performed well in a Holiday quarter that was otherwise down, and KSS called out the Champion brand for a 95% jump in sales along with solid results from the “big three” Nike, Under Armour and Adidas. Active accounted for about 20% of the $6,141 million in revenues in Q4, which were down 10% from $6,832 million last year, resulting in net income that increased 29% to $343 million from $265 million. Gross margin was 73 b.p. lower at 32.0%, while SG&A was 8% lower in dollars, but still deleveraged on the reduced top line. For ... Log in to view full article.