Kohl's Shares Rally On Sales Beat, Upbeat Outlook
Shares of Kohl's Corp. rallied 4.2% in premarket trade Wednesday, after the apparel retailer beat fourth-quarter same-store sales expectations and provided an upbeat profit outlook. For the quarter ended January, same-store sales increased 3.7% from year ago levels, beating the FactSet consensus analyst estimate for a rise of 1.9%. The company now expects full-year earnings per share of $4.20 to $4.22, above analyst projections of $4.04. The stock has run up 14% over the past three months through Tuesday, compared with an 8.2% gain in the SPDR S&P Retail ETF and a 1.9% advance in the S&P 500.
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