Shares of Kohl’s fell more than 3% in premarket trading Thursday despite reporting second-quarter earnings that beat analyst expectations and raising its forecast for the year.
Here’s how the company did for its second quarter ended July 31 compared with what analysts surveyed by Refinitiv were anticipating:
Earnings per share: $2.48 vs. $1.21 expected
Revenue: $4.45 billion vs. $4.02 billion expected
Net income rose to $382 million, or $2.48 per share, from $47 million, or 30 cents per share, a year earlier. The results topped the $1.21 per share expected by analysts surveyed by Refinitiv.
Revenue rose 31% to $4.45 billion, outpacing estimates of $4.02 billion.
Shares of Kohl’s are up more than 27% year to date as of Wednesday’s market close, putting the retailer’s market value at $8.1 billion.
This is breaking news. Please check back for updates.