KSS Kohls Corporation

By Aisha Al-Muslim

Kohl's Corp. (KSS) Tuesday said sales in the latest quarter missed expectations as the retailer experienced a slower start to the year.

The Menomonee Falls, Wis.-based department store reported a first-quarter profit of $62 million, or 38 cents a share, down from $75 million, or 45 cents a share, a year earlier.

Excluding impairments, store closing and other costs, adjusted earnings were 61 cents a share, above the 56 cents a share analysts polled by Refinitiv were looking for.

Net sales dropped 3.3% to $3.82 billion, below the consensus forecast of $3.94 billion. Total revenue was $4.09 billion, a 2.9% decline.

Comparable sales fell 3.4%, below the FactSet estimate of a decline of 0.1%.

For the fiscal year, the company now expects adjusted earnings per share of $5.15 to $5.45, compared with its prior guidance of $5.80 to $6.15.

The company had previous said it expects comparable sales of no change to a 2% increase.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

May 21, 2019 07:42 ET (11:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.