Kohl's Shares Jump After Earnings Beat Estimates

By Tonya GarciaMarketsMarketWatch Pulse

Kohl's Corp. shares rose 7.3% in Thursday premarket trading after the retailer reported second-quarter earnings that beat estimates. Net income totaled $140 million, or 77 cents per share, up from $130 million, or 66 cents per share, for the same period last year. Adjusted earnings were $1.22 per share, beating the FactSet consensus of $1.03. Revenue totaled $4.18 billion, down from $4.27 billion last year, but exceeding the $4.16 billion FactSet estimate. Same-store sales fell 1.8%, meeting the FactSet consensus. Kohl's now sees fiscal 2016 EPS in the range of $3.12 to $3.32. The company sees adjusted EPS between $3.80 and $4.00, down from previous guidance in the range of $4.05 and $4.25. The FactSet consensus is $3.84. Kohl's shares are down 38.1% for the past year while the S&P 500 Index is up 4.4% for the same period.

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