Kohl’s shares jump after earnings beat, guidance raised
Kohl’s Corp. shares jumped 5% in Tuesday premarket trading after the retailer reported first-quarter earnings that beat expectations and raised its full-year guidance. Net income for the quarter totaled $75 million, or 45 cents per share, up from $66 million, or 39 cents per share, last year. Adjusted EPS was 64 cents. Revenue was $4.21 billion, up from $4.07 billion last year. The FactSet consensus was for EPS of 50 cents and revenue of $3.95 billion. Same-store sales grew 3.6%, exceeding FactSet expectations for 2.6% growth. Kohl’s now expects fiscal 2018 EPS of $4.86 to $5.31 and adjusted EPS of $5.05 to $5.50, up from previous adjusted EPS guidance of $4.95 to $5.45. The FactSet consensus is $5.23. Kohl’s stock is up 20.7% for the year to date, outpacing the S&P 500 index , which is up 2.2% for the period.