NEW YORK (AP) — Kohl's reported on Wednesday that both profits and sales declined in the second quarter as the department store chain wrestles with shoppers' cautious spending in a challenging economy. But the results beat Wall Street expectations as the retailer cut inventory and expenses. The department store chain also reaffirmed its annual guidance. Shares rose more than 2% in premarket trading. Kohl's, based in Menomonee Falls, Wisconsin, is among the last group of retailers to report second-quarter results in an earnings season that has shown how still-high inflation, despite some easing, and higher interest rates are making shoppers cut back on discretionary items like clothing in order to afford their larger grocery bills.

https://www.mymotherlode.com/news/national/3214156/kohls-beats-on-2q-profits-as-department-store-cuts-inventory-amid-cautious-consumer-spending.html

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