Kohl's earnings slip, comps up in Q1

MENOMONEE FALLS, Wis. — Despite dropping from the previous year, Kohl's said its net income for the first quarter ended April 28 was in line with its expectations. The company reported net income of $154 million (63 cents per diluted share) compared with $201 million ($0.69 per diluted share) a year ago. Net sales were $4.2 billion, an increase of 1.9%for the quarter. Comparable-store sales for the quarter increased 0.2 percent. Kevin Mansell, Kohl’s chairman, president and CEO, said, “Our first quarter results reflect the implementation of our strategy to initiate lower pricing in order to provide greater value