Kohl's Outlook Overshadows Quarter
NEW YORK (
) --
Kohl's
(KSS) - Get Kohl's Corporation Report
trimmed the high-end of its outlook, overshadowing what was a strong second-quarter.
During the quarter, the value-priced department store earned $260 million, or 84 cents per share, a 14% increase over $229 million, or 75 cents, in the year-ago period. Analysts forecast a profit of 82 cents for Kohl's.
Kohl's sales grew 8% to $4.1 billion, while its same-store sales rose 5.9%.
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Kohl's now expects full-year earnings in the range of $3.57 to $3.70 a share, compared with prior guidance between $3.57 and $3.75 a share. Wall Street is looking for earnings of $3.76 a share.
As a result, shares of Kohl's are tumbling 3.7% to $46 in pre-market trading.
-- Reported by Jeanine Poggi in New York.
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