Kohl’s (KSS) Q3 2021 earnings
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On November 12, 2015, customers left a Kohl’s store in San Rafael.
Justin Sullivan | Getty Images News | Getty Images
Kohl’sOn Thursday, sales increased 16% during the fiscal third quarter as customers turned to it and its website for clothing and makeup.
Kohl’s department store chain raised its earnings forecast for 2017, saying that it expected to earn $7.10 to $7.30 per share. This excludes any nonrecurring expenses. Kohl had previously forecast earnings between $5.80- $6.10 per stock.
In premarket trading, shares rose by over 6%
According to Refinitiv consensus estimates, here’s the report for the company’s third quarter ending Oct. 30.
- Earnings per share: $1.65 vs. 64 cents expected
- Revenue: $4.6B vs. the $4.27B expected
The net income of $243million was $1.65 per share. This compares to a loss of $12million, which is 8 cents per shares, one year ago. Refinitiv analysts expected the results to exceed 64 cents per shared.
Revenues rose 16%, to $4.6billion. This was more than the $4.27 billion estimates.
According to StreetAccount, same-store sales which measure sales at Kohl’s locations open at least twelve months and online, increased 14.7% in third quarter. This was more than the 12.5% increase analysts had expected.
Kohl’s stock is up 39% as of Wednesday’s closing. The company’s market share grew to $8.50 Billion on Wednesday when shares closed at $56.48.
Read the company’s press release here.
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