Kohl's Stock Jumps Premarket After Earnings Beat

By Andrea RiquierMarketsMarketWatch Pulse

Shares of Kohl's Corporation surged 7% in premarket trading Thursday after the retailer reported earnings that beat Wall Street estimates. Net income for the second quarter was $208 million, or $1.24 per share, versus $140 million, or 77 cents per share, in the same period a year ago. Same-store sales rose 0.4% compared to a year ago, while overall sales in the quarter totaled $4.144 billion, down from $4.18 billion a year ago. Adjusted earnings per share were $1.24, versus $1.22 a year ago, and beating the FactSet consensus of $1.19. Foot traffic "accelerated" in the second quarter, CEO Kevin Mansell said in a release. Kohl's shares are down 15% in the year to date, compared to a 10.5% gain for the S&P 500 [s:spx].

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