Kohl's Corp forecast a steeper decline in full-year profit margin despite b...
) forecast a steeper decline in full-year profit margin despite better-than-expected quarterly earnings, because of the cost of more aggressive promotions in the first half and potential hit from new tariffs on imports from China.
In an escalating trade war, Washington’s proposed tariffs on an additional $300 billion worth of Chinese goods, which would include apparel and footwear, have made retailers nervous, with some warning of possible price increases for U.S. shoppers. It said margins fell 72 basis points to 38.8% in the second quarter, blaming higher shipping costs and increased promotions to maintain market share for the drop. For the whole first half of the year, margins were down 41 basis points.
Kohl’s has been investing in several new partnerships to woo more shoppers. Last month, it expanded a returns program it launched with Amazon in 2017, through which items bought on the e-commerce website could be returned at Kohl’s stores, generating additional sales for the retailer. Kohl’s also stocks Amazon’s Echo Dot speakers and Kindle e-readers at its stores.
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