Overview
- Kohl’s lifted full-year targets to adjusted EPS of $1.25–$1.45 and a net sales decline of 3.5%–4%, improving from prior ranges of $0.50–$0.80 and a 5%–6% drop.
- Third-quarter results topped expectations with net sales of about $3.4 billion, comparable sales down 1.7%, net income of $8 million, and gross margin at 39.6%.
- Inventory fell 5% year over year to $3.9 billion, and management kept capital spending guidance unchanged at approximately $400 million.
- Shares closed up 28% Tuesday after the outlook upgrade, marking the second time this year the company has raised its annual guidance.
- Michael Bender, who steered the turnaround as interim leader, was named permanent CEO, reinforcing continuity in strategy across private brands and the Sephora partnership.