Investors Cheer Kohl's Results

Shares of Kohl's Corporation KSS climbed 8 percent to $48.90 on better-than-expected third quarter earnings amid strong back-to-school season.

Following is a gist of Kohl’s quarterly results:

• Kohl's Reports Q3 Adj. EPS $0.80 vs $0.70 Est., Sales $4.327B vs $4.33B Est.
• Kohl's Comps Down 1.7% in Q3
• Kohl's Reaffirms FY16 Adj. EPS $3.80-$4 vs $3.87 Est.

Kohl’s ended the quarter with 1,155 Kohl's stores, 12 FILA Outlet stores, and three Off/Aisle clearance centers in 49 states, compared with 1,166 Kohl's stores at the same time last year.

"We are pleased to see continued improvement in our sales trends. Our back-to-school season was strong, followed by a soft September, and progressive improvement throughout October. We are encouraged by these trends as we enter the Holiday season,” Kevin Mansell, Kohl's chairman, chief executive officer and president, said in a press release.

Shares of Kohl’s closed Wednesday’s session at $45.70.