Kohl's Shows Q2 Sales Above Estimates While Earnings Rise 14%
Kohl's Corporation (NYSE: KSS) released its Q2 results before the open on Thursday. Earnings per share came in above Wall Street consensus expectations, sending shares higher.
Kohl's reported EPS of $1.22 and revenues of $4.182 billion. Analyst consensus had an EPS estimate of $1.03 and revenues of $4.16 billion.
Kohl's saw FY16 EPS at $3.80-$4.00 vs. estimates of $3.83. Kohl's prior forecasts for FY16 was between $4.00-$4.25.
"Our sales improved over our first quarter results, but were below our expectations. We are encouraged by the performance of juniors and young men's as we enter the Back-to-School season. Our inventory management initiatives helped us to achieve a strong increase in gross margin with ending inventory per store down significantly from last year," said Kevin Mansell, chairman and CEO.
At time of writing, Kohl's traded at $41.25 in Thursday's pre-market session, up 89.4 percent.
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