Kohl’s Corp lifts outlook as it posts Q2 earnings growth

Kohl’s Corporation (KSS) beat analyst expectations on revenues and profits for the second quarter of 2018 and raised its EPS outlook for the full year. The company reported total revenues of $4.5 billion, an increase of 4% compared to the same period last year. Comparable sales rose 3.1%.

Net income, both on a reported and adjusted basis, grew 40% to $292 million or $1.76 per share from the prior-year period.

Kohl’s updated its diluted EPS guidance for full-year 2018 to $4.96 to $5.36 from the prior guidance of $4.86 to $5.31. Adjusted diluted EPS is now expected to be $5.15 to $5.55, compared to the prior guidance of $5.05 to $5.50.

The company saw strong performance across both its stores and digital channels during the quarter. Growth was broad-based across geographies and brands while proper inventory management helped drive margins across the business.

On August 14, 2018, the Board of Directors declared a quarterly cash dividend on the company’s common stock of $0.61 per share, payable September 26, 2018 to shareholders of record on September 12, 2018.

The stock dropped over 2% premarket but is up more than 45% thus far this year.

Related: Kohl’s Q2 2018 Earnings Transcript

Related: Kohl’s earnings preview: comps to drive growth in Q2

Related: Kohl’s Q1 2018 Earnings Infographic