Kohl's up 6% Despite Lower Than Expected June Sales

Kohl's Corporation (NYSE: KSS) is trading higher on the session following its June same store sales announcement. The company reported a 4.2% decrease in the same store sales. Kohl's also announced it sees Q2 EPS at the low end of its previous guidance. Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “Though June sales were again lower than expectations, we are encouraged by improved sales in the latter weeks of the month as we continued to build inventory levels. From a line of business perspective, Men's and Footwear were the strongest categories. The Midwest was the strongest region.” Kohl's is currently trading at $47.09, a gain of $2.83 or 6.39%.