What: Kohl’s reported a decline in net income for the quarter ending October 28.

Why it is important:  Kohl's decline in net income and sales reflects the current performance of the company and its impact on the retail industry.

Their net income fell to USD 59 million, beating expectations of 35 cents per diluted share. Operating income was USD 157 million, down from USD 200 million the previous year. Net sales decreased by 5.2%  year-over-year to USD 3.8 billion, with comparable sales down 5.5 percent. Kohl's raised its forecast for diluted earnings per share for the year to USD 2.30 to USD 2.70, excluding any non-recurring charges, and adjusted the sales forecast to a decrease of 2.8 to 4 percent

The company highlighted strong performance in Sephora and growth in home and gifting initiatives. Kohl's also made strategic investments in stores to improve performance, and it predicted that Sephora would become a USD 2 billion business at Kohl's by 2025.

Kohl’s posts Q3 declines