Kohl's reports lower-than-expected quarterly sales

Department store operator Kohl's Corp reported lower-than-expected quarterly sales as it struggles with low demand for apparel and competition from online retailers.

Net income fell to $252 million, or $1.44 per share, in the fourth quarter ended Jan. 28, from $296 million, or $1.58 per share, a year earlier.

Net sales fell to $6.21 billion from $6.39 billion a year earlier, falling for the fourth straight quarter. Analysts on average had expected revenue of $6.22 billion, according to Thomson Reuters I/B/E/S.