Kohl’s Corp. (NYSE: KSS) released its fiscal second-quarter financial results before the markets opened on Tuesday. The company said that it had $1.76 in earnings per share (EPS) and $4.57 billion in revenue, which compares with consensus estimates of $1.64 in EPS and $4.26 billion in revenue. The same period of last year reportedly had EPS of $1.24 on $4.4 billion in revenue.
During the quarter, comparable sales increased by 3.1% from a decline of 0.4% in the same period of last year.
Looking ahead to the fiscal full year, the company expects to see EPS in the range of $4.96 to $5.36, down from its previous range of $4.86 to $5.31. Consensus estimates call for $5.39 in EPS and $19.09 billion in revenue for the year.
On the books, Kohl’s cash and cash equivalents totaled $1.07 billion at the end of the quarter, up from $552 million at the end of the previous fiscal year.
Michelle Gass, Kohl’s CEO, commented:
We are pleased to report that our sales momentum continued in the second quarter, resulting in a comparable sales increase of 3.1%, our fourth consecutive quarter of positive comparable sales. We saw strength across the business — both our store and digital channels, all regions of the country, and our proprietary and national brands. Our Men’s and Women’s apparel businesses led the company, followed closely by Footwear. We also reported higher gross margin as a result of our ongoing focus on inventory management. I would like to thank our team for their outstanding efforts in delivering strong and sustainable performance, which are reflected in our results.
Shares of Kohl’s closed Monday at $78.85, with a consensus analyst price target of $76.35 and a 52-week range of $37.35 to $79.92. Following the announcement, the stock was down about 5% at $77.85 in early trading indications Tuesday.
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