Kohls Profits Soar in Period
NEW YORK (May 12, 2006) - Kohl s Corp. had a strong first quarter, posting net income that rose 34.1 percent to $167.2 million, or 48 cents per diluted share, from $124.7 million, or 36 cents, in the same period last year. Sales gained 16.1 percent to $3.2 billion from $2.7 billion. Same-store sales rose 6.9 percent during the quarter. The gross margin rate jumped to 36.1 percent from 35.8 percent in the prior year s quarter. ARTHUR ZACZKIEWICZ
PacSun Profits Freefall in First Quarter
NEW YORK (May 12, 2006) - Weighed down by sagging same-store sales, Pacific Sunwear reported a 32.4 decline in first quarter profits. Net income for the quarter ended April 30 fell to $11.9 million, or 16 cents a diluted share, from $17.6 million, or 23 cents, in the same period last year on sales that rose 7.1 percent to $299.9 million from $280 million. Same-store sales for the quarter declined 1.8 percent. ARTHUR ZACZKIEWICZ
Penneys Profits Jump but Stock Falls
NEW YORK (May 12, 2006) - Shares of J.C. Penney Co. Inc. fell in trading Thursday even though the company posted a 22.1 percent jump in first-quarter results and raised full-year guidance. The stock closed at $65.98, down 93 cents, in trading on the New York Stock Exchange because the forecast wasn t as high as analysts expected. Nevertheless, earnings for the three months ended April 29 were $210 million, or 89 cents a diluted share, compared with $172 million, or 63 cents, in the same year-ago quarter. Ken Hicks, president and chief merchandising officer, said women s apparel continues to be soft, but men s wear had a strong performance in the period. VICKI M. YOUNG
