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Kohl's reports second-quarter profit

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Posted at 8:45 AM, Aug 20, 2019
and last updated 2019-08-20 13:31:57-04

MENOMONEE FALLS (AP) — Kohl's Corp. (KSS) on Tuesday reported a fiscal second-quarter profit of $241 million.

On a per-share basis, the Menomonee Falls-based company said it had a profit of $1.51. Earnings, adjusted for asset impairment costs, came to $1.55 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

The department store operator posted revenue of $4.43 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $4.46 billion.

Kohl's expects full-year earnings in the range of $5.15 to $5.45 per share.

Kohl's shares have declined 27% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. The stock has decreased 37% in the last 12 months.