Meanwhile, PayPal acquires mobile payments firm Paydient.
Chain retailer Kohl’s reported e-commerce sales of $42.5 million for the third quarter, up 6% from $40 million last year.
Chain retailer Kohl’s Corp. reported e-commerce sales of $42.5 million for the third quarter of 2007, up 6% from $40 million in the prior year quarter. For the first nine months of 2007, sales at Kohls.com sales increased 43.4% to $143.8 million, reflecting the company’s previously stated plan to expand online product offerings.
Net sales for the third quarter, ended November 3, 2007, were $3.8 billion, a 2.7% increase from $3.7 billion year over year. Comparable store sales declined 2.6% compared with the third quarter of 2006. Net income for the quarter was $194 million.
A mild autumn played a part in the store sales decline. Kohl’s, No. 219 in the Internet Retailer Top 500 Guide, attributed a substantial portion of the comparable stores sales shortfall to a double-digit drop in weather-related apparel sales.
For the nine months ended Nov. 3, net sales increased 8.3% and comparable store sales increased 0.7% over the prior year period. Year-to-date net income was up 7.7% to $672.2 million