Kohl's Q1 net income rises on higher revenue

Menomonee Falls, Wis. Kohl's Corp. said Thursday its first-quarter net income rose 45% as shoppers spent more at its stores.

Kohl's said its net income rose to $199 million in the three months ended May 1, up from $137 million a year ago.

Revenue rose 11% to $4.04 billion, from $3.64 billion last year.

Same-store sales rose 7.4% in the quarter.

"Consumers appeared to be a little more confident in their spending, but remain focused on value and ways to make their dollars go farther," said CEO Kevin Mansell in a statement.

Kohl’s opened nine stores during the quarter, for a total of 1,067 stores in 49 states.

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