Overview

• Kohl’s posted adjusted EPS of $0.56 on revenue of about $3.35 billion, with net income of $153 million for the quarter ended Aug. 2.
• The retailer lifted its full-year outlook to adjusted EPS of $0.50 to $0.80 and now expects net sales to decline 5% to 6%, with comparable sales seen down 4% to 5%.
• Quarterly sales remained weak, with net sales down 5.1% year over year and comparable sales off 4.2%.
• Profitability improved as gross margin rose 28 basis points to 39.9%, SG&A expenses fell 4.1%, and inventory declined 5% to $3.0 billion.
• Shares jumped as much as 29% intraday and closed up about 24% Wednesday, even as the company navigates interim leadership, more than $2 billion in debt, reported vendor payment-term changes, and an ongoing turnaround centered on Sephora and proprietary brands.