Department store chain Kohl's Corp. (KSS), while reporting higher second-quarter earnings above market estimates, on Wednesday raised fiscal 2025 earnings outlook. Meanwhile, the firm trimmed the higher end of its net sales and comparable sales forecast range after the second-quarter sales missed the Street estimates.
In the pre-market activity, Kohl's shares were climbing around 23 percent to trade at $16.00.
For the full year 2025, the company currently expects adjusted earnings per share in the range of $0.50 to $0.80, compared to previous estimate of $0.10 to $0.60.
The Wall Street analysts on average expect the company to report earnings of $0.63 per share. Analysts' estimates typically exclude special items.
Net sales are now expected to decrease 5 percent to 6 percent percent from last year, with a drop in comparable sales of 4 percent to 5 percent.
The company previously expected net sales to decline in a range of 5 percent to 7 percent, and comparable sales to decline in a range of 4 percent to a 6 percent.
The Street expects net sales to decline 4.26 percent year-over-year to $14.73 billion.
In the second quarter, Kohl's' net earnings came in at $153 million or $1.35 per share, higher than $66 million or $0.59 per share last year.
Adjusted earnings were $64 million or $0.56 per share for the period. Analysts on average had expected the company to earn $0.30 per share.
Total revenue dropped to $3.55 billion from $3.73 billion year ago.
The company's net sales for the period fell 5.1 percent to $3.35 billion from $3.53 billion last year. Analysts expected $3.37 billion in net sales for the quarter.
Comparable sales were down 4.2 percent.
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