Kohl's, on the other hand, reported lower-than-expected third-quarter results and pessimistic guidance for the holiday shopping season. Shares crumbled on Thursday, falling 8.1% to $53.55.
Investors weren't happy after same-store sales dropped 1.6% over the third quarter and gross sales of $4.44 million came in $110 million shy of consensus estimates. The department store chain didn't paint a rosy picture for the lucrative holiday shopping season either, predicting total sales declines in the range of 2% to 4% and comparable-store sales down 2% at most.
The retailer slashed its full-year earnings forecast to between $4.08 a share to $4.23 a share from a previous guidance range of $4.15 to $4.35 a share. Analysts estimate full-year net income of $4.23 a share.
Written by Laurie Kulikowski in New York. Keris Alison Lahiff contributed to this report
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