Kohl's Raises 2024 Earnings Outlook - Update

(RTTNews) - (Adds Outlook)

Kohl's Corporation (KSS) said it now expects fiscal 2024 EPS in the range of $1.75 to $2.25. Comparable sales are projected to decline in a range of 3% to a decrease of 5%. In May, the company projected: EPS in the range of $1.25 to $1.85; and comparable sales decline in a range of 1% to 3%.

Q2 Results:

The company's second quarter earnings totaled $66 million, or $0.59 per share compared with $58 million, or $0.52 per share, a year ago. Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.2% to $3.53 billion from $3.68 billion last year. Comparable sales were down 5.1%. Analysts expected revenue of $3.58 billion for the quarter.

Shares of Kohl's are up 2% in pre-market trade on Wednesday.

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