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Kohl's quarterly profit, comp sales beat estimates


(Reuters) - Department store operator Kohl's Corp reported better-than-expected quarterly profit and comparable sales, helped by a sales boost in the final month of the quarter and cost cuts, sending its shares up 4 percent in premarket trading.Kohl's and rivals such as Macy's Inc and J.C. Penney Co Inc have been struggling with declining mall traffic and tough online competition. In response, they have been cutting costs by closing stores, selling or leasing their real estate and keeping a tight leash on inventory.Sales at Kohl's stores open for more than a year fell for the sixth straight ...

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First Published: Thu, August 10 2017. 17:03 IST