- Kohl’s beat on both the top and bottom lines.
- Comparable sales were positive for a fourth straight quarter.
- The retailer raised its guidance, but missed the consensus estimate.
- Watch Kohl’s trade in real time here.
Kohl’s reported second-quarter results on Tuesday that outpaced Wall Street estimates on both the top and bottom lines, but gave slightly disappointing guidance that sent shares down as much as 5% ahead of the opening bell.
The retailer earned an adjusted $US1.76 a share on revenue of $US4.31 billion. Those figures were ahead of the $US1.64 and $US4.29 billion that analysts surveyed by Bloomberg were anticipating. Additionally, comparable sales were positive for a fourth straight quarter, climbing 3.1% and easily beating the 2.6% gain that was expected.
“We saw strength across the business — both our store and digital channels, all regions of the country, and our proprietary and national brands,” CEO Michelle Gass said in the earnings release.
Management raised its full-year adjusted earnings per share guidance to between $US5.15 and $US5.55 a share (up from $US5.05 to $US5.50), good for a midpoint of $US5.35. The Wall Street consensus was at $US5.36, according to Bloomberg.
Kohl’s shares were up 45% this year through Monday.
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