UPDATE: Kohl's Q4 Profit Beats Expectations, Lifts Dividend

Kohl's Corp. (NYSE: KSS) reported upbeat earnings for the fiscal fourth quarter on Thursday.The Menomonee Falls, Wisconsin-based company posted a quarterly profit of $369 million, or $1.83 per share, versus a year-ago profit of $334 million, or $1.56 per share. Its revenue climbed 3.9% to $6.34 billion. However, analysts were expecting earnings of $1.80 per share on revenue of $6.33 billion.Kohl's same-store sales surged 3.7% in the quarter. The company lifted its quarterly dividend by 15% to $0.45 per share. The company ended the fiscal year with 1,162 stores in 49 states. Kohl's opened 7 stores in new locations, relocated 2 existing stores, and closed 3 stores during 2014.Kevin Mansell, Kohl's chairman, president and chief executive officer, said, "Our fourth quarter results showed significant improvement as many of our Greatness Agenda initiatives took hold. Our 3.7% increase in comparable sales was driven by both transactions per store - a key area of focus - and average transaction value. The sales strength was broad as all lines of business and all geographic regions reported higher sales"For 2015, the company projects earnings of $4.40 to $4.60 per share, total sales growth of 1.8% to 2.8% and same-store sales growth of 1.5% to 2.5%. Analysts had expected earnings of $4.55 per share.Kohl's shares rose 1.33% to close at $70.90 yesterday.