Shares of Kohl's Corp. (KSS) are rising over 6% Thursday morning, after the company raised its full-year guidance, while reporting upbeat Q2 results.
The stock, which has been trading in the range of $18.28 - $64.80 for the past one year, is currently trading at $55.27, up $3.42 or 6.60%, with trading volume surging over 4.27 million versus an average volume of 5.11 million shares.
For fiscal 2021, Kohl's now sees adjusted earnings per share to be in the range of $5.80 - $6.10, versus the previous expectation of $3.80 - $4.20. Net sales are now expected to increase in the low-twenties percentage range compared to the previous expectation of mid-to-high teens percentage range increase. Analysts expect the company to report earnings of $4.35 per share.
The company's Q2 net income increased to $382 million or $2.48 per share from $47 million or $0.30 per share earned a year ago. Adjusted earnings per share was $2.48 compared to a loss of $0.25 prior year. Fifteen Wall Street analysts estimate earnings of $1.16 per share for the quarter.
Second-quarter net sales rose to $4.22 billon from $3.21 billion last year. Total revenue was $4.45 billion compared to $3.41 billion. Analysts expected revenue of $3.99 billion for the quarter.
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