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.