Kohl’s Q2 profit up 17%, on track to open 31 stores
Menomonee Falls, Wis. — Kohl’s Corp. reported Thursday that profit for the quarter ended July 30 rose 17% to $303 million, compared with $260 million in the year-ago period. The retailer cited tightened cost controls and success of store-label brands for the improved performance, and has raised its full-year guidance.
Kohl’s said it is on track to open an additional 31 stores this year, as well as remodel another 15 stores next month. The company opened nine and remodeled 85 stores in the first half of the year.
Revenue for the second quarter rose 3.6% to $4.25 billion, missing Wall Street’s expected $4.32 billion. Same-store sales rose 1.9% in the quarter.
“I am extremely pleased with our ability to deliver strong earnings growth in a challenging sales environment,” said Kevin Mansell, Kohl’s chairman, president and CEO. “Prudent expense management across many of our areas, especially in stores, allowed us to achieve lower-than-planned expense growth.”
Kmart goes back-to-school with second original Web series
NEW YORK — Kmart has teamed up with Alloy Media+ Marketing for a second Web series promoting Kmart for back-to-school. The Web series, "First Day 2: First Dance (www.facebook.com/FDtheseries and www.kmart.com/firstdance)is scheduled to premiere on Sept. 9 and is the sequal to the company’s original Web series, "First Day."
The six-episode series follows a teenage girl who repeatedly relives the same day as she attempts to reach the back-to-school dance in hopes of capturing the attention of her high school crush. Throughout the series, Kmart fashions will be highlighted with direct links to purchase at Kmart’s website.Viewers will also have the chance to participate in the "Show Us Your Best Look" sweepstakes (www.kmart.com/bestlook), where one lucky winner and a guest will visit Los Angeles for a full "Hollywood" experience and receive a head-to-toe makeover, including a Kmart shopping spree with a personal stylist to complete a brand new school wardrobe. Plus, each day (through Sept. 30) 10 winners will receive a $100 Kmart back-to-school shopping spree.
"The Web series ‘First Day’ proved a hit with tween and teen consumers and succeeded in delivering a dynamic digital experience that resonated with our target consumers during the pivotal back-to-school season," said Andrew Stein, VP marketing planning at Sears Holdings. "’First Day 2: First Dance’ allows Kmart to continue an important dialog with young consumers in a way that appeals to their ever-changing media tastes and through an innovative and highly entertaining vehicle that truly hits the mark with this discerning and influential audience."
Target offering flu shots at pharmacy, clinic locations
MINNEAPOLIS — Target announced that 1,650 of its pharmacy locations, in addition to its clinics, are offering flu shots at no appointment necessary, effective Aug. 15.
Target pharmacists and clinicians at Target Clinic will administer flu shots during regular pharmacy and clinic hours — including evenings and weekends — for $25. This year’s vaccine protects against seasonal flu, H1N1 and H3N2, another virus subtype that causes the flu, the company said.
“Prevention is key to staying healthy during cold and flu season, and Target is dedicated to providing products, services and expert advice to help our guests stay well year-round,” Target SVP health and beauty José Barra said. “Getting vaccinated is an effective way to prevent the flu, so our goal is to make it easy and convenient for people to get their flu shot—while saving them money in the process.”
For more information, visit Target.com/flu.