Kohl’s reports mixed 4Q results, upbeat outlook

Kohl’s reported mixed results for its fiscal fourth quarter, delivering a 30% increase in profits but a 10% drop in sales.

Results handily beat Wall Street estimates. Online sales growth remained strong, up 22% for the latest quarter, and accounted for 42% of net sales.

The Menomonee Falls, Wisconsin, company also issued a per-share forecast for the current year whose top range beat analysts’ expectations. It also expects solid revenue growth.

The earnings report comes out as Kohl’s is fighting back against an investor group’s efforts to take control of the department store chain’s board, arguing that it would derail its progress and momentum.