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Reuters - Larry Montgomery is expected to step down as retailer Kohl's Corp chief executive, The Wall Street Journal said.

Larry Montgomery is expected to step down as retailer Kohl's Corp chief executive, The Wall Street Journal said.

President Kevin Mansell is taking over from Montgomery, the paper said.

The mid-priced apparel and home goods retailer is expected to announce the management changes on Thursday, according to the paper.

Montgomery, who will remain chairman, told the Journal in an interview on Wednesday that he had no plans to retire.

The board delayed announcing the management change by "a couple of months" to avoid giving the impression that Montgomery was being pressured to resign because of poor performance, the paper said citing a Kohl's director.

U.S. retailers have been feeling the pinch as consumers who are spending more on fuel and food have less money for items like clothing.

Kohl's profit fell to $236.0 million, or 77 cents per share, in its fiscal second quarter, ended August 2, from $269.2 million, or 83 cents per share, a year earlier.

"I have faced no pressure to step down," Montgomery told the Journal.

Kohl's was not immediately available for comment.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Erica Billingham)