Kohl's Corp KSS shares are trading higher by 7.4% to $25.58 during Friday's session. Shares of retail and apparel stocks are trading higher following strong earnings from Gap Inc and Ross Stores.
What Happened With Gap?
Gap had an eye-opening earnings report, exceeding expectations with earnings per share at 59 cents versus an expected 18 cents. Quarterly sales hit $3.767 billion, surpassing market predictions of $3.610 billion.
Yet, despite the positive outcome, these sales marked a 7% decrease from the same period in 2022 when sales stood at $4.039 billion...Read More
Why This Matters To KSS Investors
Retail and apparel stocks often move in tandem based on sector-wide trends and consumer spending patterns. Positive results from prominent players like Gap can signal strength in consumer demand, potentially indicating a broader market shift or increased consumer confidence.
Investors could interpret this as a positive outlook for other companies in the same sector, including Kohl's.
See Also: Why ChargePoint Stock Hit A New All-Time Low Today
According to data from Benzinga Pro, KSS has a 52-week high of $35.77 and a 52-week low of $17.68.
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