Kohl's 2Q disappoints, but retailer optimistic

MENOMONEE FALLS, Wis. — Sales and earnings were disappointing at Kohl's, but the retailer remains optimistic heading into the fall. The retailer reported second quarter net income of $240 million, or $1 per diluted share, compared with $299 million, or $1.08 per diluted share, a year ago. Net sales were $4.2 billion, a decrease of 1% for the quarter. Comparable-store sales for the quarter decreased 2.7%. Kevin Mansell, Kohl’s chairman, president and CEO, said, “Our sales performance in the second quarter was disappointing. Our gross margin performance for the quarter, however, was better than expected. Our teams remain disciplined