Kohl’s Reports Surprise Profit in Q1 Helped by Inventory Cuts

Kohl’s Reports Surprise Profit in Q1 Helped by Inventory Cuts
A pair of shoppers arrive at a Kohl's in Everett, Mass., on Nov. 26, 2021. Josh Reynolds/AP Photo
The Associated Press
Updated:

NEW YORK—Kohl’s posted a surprise profit for the fiscal first quarter, helped by the department store chain’s moves to cut inventory in the wake of weak sales.

The company, based in Menomonee Falls, Wisconsin, also affirmed its annual financial guidance, pushing up shares 11 percent higher in premarket trading on Wednesday.