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 story : Kohl's reports record earnings and raises full-year guidance #FinanceUSA #StockMarketNEWS Kohl's Corp. shares jumped 6.2% in Thursday premarket trading after the department store retailer reported

@stockMarketNEWS 9 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Kohl's reports record earnings and raises full-year guidance #FinanceUSA #StockMarketNEWS
Kohl's Corp. shares jumped 6.2% in Thursday premarket trading after the department store retailer reported third-quarter record earnings that beat expectations. Net income totaled 3 million, or .65 per share, after a loss of million, or 8 cents per share, last year. Revenue of .60 billion was up from .98 billion last year. The FactSet consensus was for EPS of 70 cents and revenue of .27 billion. Comparable sales rose 14.7% ahead of the FactSet consensus for 12.5% growth. Kohl's plans to repurchase .3 billion in shares in 2021 after repurchasing 6 million in the third quarter. Kohl's raised its full-year sales expectations to growth in the mid-twenties percentage range, up from low-twenties percentage range growth. And adjusted EPS is now expected to be in the range of .10 to .30, up from .80 to .10 previously. The FactSet consensus is for sales of .22 billion, suggesting 25.2% growth, and EPS of .71. Kohl's shares have surged 38.8% for the year to date, outpacing the S&P 500 index , which is up 24.8% for the period.


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