Kohl's posts first sales drop in six quarters

Posted online May 12, 2016 | 11:34 am

Department store operator Kohl's posted sales of $3.97 billion, a 3.7 percent decrease and the first drop in six quarters.

Net income dropped to $17 million in the first quarter from $127 million a year earlier.

Reuters cited unseasonably cool weather that damaged the company's sales of spring clothing.

Same-store sales also declined by 3.9 percent.

Read more from Reuters.

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