Menomonee Falls-based Kohl's Corp. today reported fourth quarter net income of $455 million, or $1.81 per share, compared with $494 million, or $1.66 per share, in the same period a year ago.
The retailer's quarterly net sales remained flat at $6.1 million.
The company said it expects first-quarter earnings of 60 cents per share and 2012 earnings of $4.75 a share. Wall Street analysts had expected Kohl's to earn 77 cents a share in the quarter and $4.93 a share in 2012.
"Overall we were disappointed in our performance last year," said Kohl's chief executive officer Kevin Mansell. "We are not generating enough new customers."
Mansell said the company is pleased with the growth of its online business but not with the performance of its retail stores.
"2012 is really about improving the health of our core brick and mortar business and to get that business back on track," Mansell said.
Kohl’s cuts outlook for earnings
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