Revenue during the quarter dropped 3.25 percent to $3,843 million from $3,972 million in the previous year period. Gross margin for the quarter expanded 83 basis points over the previous year period to 36.38 percent. Total expenses were 95.19 percent of quarterly revenues, down from 97.33 percent for the same period last year. This has led to an improvement of 215 basis points in operating margin to 4.81 percent.

Operating income for the quarter was $185 million, compared with $106 million in the previous year period.

Kevin Mansell, Kohl's chairman, chief executive officer and president, said, "We are encouraged by the significant improvement in sales and traffic for the March and April period, after a weak February start to the first quarter. Continued strong inventory management led to a major improvement in gross margin, and our teams managed expenses exceptionally well. I am pleased to say that combined together these efforts led to an increase in income for the period."

The company has spent $203 million cash to meet investing activities during the quarter as against cash outgo of $174 million in the last year period. It has incurred capital expenditure of $203 million on net basis during the quarter, up 16.67 percent or $29 million from year ago period.

The company has spent $292 million cash to carry out financing activities during the quarter as against cash outgo of $250 million in the last year period.

Cash and cash equivalents stood at $625 million as on Apr. 29, 2017, up 47.75 percent or $202 million from $423 million on Apr. 30, 2016.

Debt comes down marginally
Kohls Corporation has recorded a decline in total debt over the last one year. It stood at $4,586 million as on Apr. 29, 2017, down 2.22 percent or $104 million from $4,690 million on Apr. 30, 2016. Interest coverage ratio improved to 2.43 for the quarter from 1.34 for the same period last year.