Kohl’s Profit Down in 3Q
Menomonee Falls, Wis. Kohl’s Corp. reported net income for the quarter ended Nov. 1, of $160.2 million, down 17% from $194.0 million last year.
Net sales were $3.8 billion, a decrease of 0.6% for the quarter. Same-store sales decreased 6.7%.
For the nine months ended Nov. 1, net income decreased 18% to $549.1 million compared to $672.2 million for the nine months ended Nov. 3, 2007.
Net sales increased 1.5% to $11.2 billion from $11.0 billion a year ago, while same-store sales decreased 6.0%.
Wal-Mart partners with Army Reserve
BENTONVILLE, Ark. The U.S. Army Reserve and Wal-Mart have signed an agreement that allows both organizations to recruit, train and employ individuals interested in both serving the nation and pursuing a career in the retail industry.
The initiative provides Army Reserve Soldiers opportunities for employment with Wal-Mart after they successfully complete military occupational specialty training (MOS). The Army Reserve and Wal-Mart will work together to recruit, license and offer training reciprocity to qualified Soldier candidates. The agreement commits Wal-Mart to interviewing and considering all qualified, participating Soldiers for employment upon completion of MOS training.
“We are excited and honored to have U.S. Army Reserve Soldiers join our team,” said Lee Scott, president and ceo of Wal-Mart. “Our company has a longstanding commitment to providing employment opportunities in the community. We have also long recognized those who serve in the military, and it is a privilege to assist the troops and their Families with this new initiative.”