{"id":120111,"date":"2021-08-19T11:53:28","date_gmt":"2021-08-19T11:53:28","guid":{"rendered":"https:\/\/fin2me.com\/?p=120111"},"modified":"2021-08-19T11:53:28","modified_gmt":"2021-08-19T11:53:28","slug":"kohls-earnings-top-estimates-retailer-raises-forecast-as-higher-foot-traffic-drives-sales","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/kohls-earnings-top-estimates-retailer-raises-forecast-as-higher-foot-traffic-drives-sales\/","title":{"rendered":"Kohl&#x27;s earnings top estimates, retailer raises forecast as higher foot traffic drives sales"},"content":{"rendered":"<p>Kohl&#x27;s reported Thursday fiscal second-quarter earnings that beat analyst expectations and it raised its forecast for the year, as shoppers headed back to its stores. <\/p>\n<p>The company&#x27;s stock was down less than 1% on the news.<\/p>\n<p>&quot;Based on our results, we are raising our full year 2021 guidance, which positions us to achieve many of our 2023 strategic goals this year, well ahead of our plan,&quot; said CEO Michelle Gass, in a press release.<\/p>\n<p>Here&#x27;s how the company did for its second quarter ended July 31 compared with what analysts surveyed by Refinitiv were anticipating:<\/p>\n<ul>\n<li><strong>Earnings per share<\/strong>: $2.48 vs. $1.21 expected<\/li>\n<li><strong>Revenue<\/strong>: $4.45 billion vs. $4.02 billion expected<\/li>\n<\/ul>\n<p>Net income rose to $382 million, or $2.48 per share, from $47 million, or 30 cents per share, a year earlier. The results topped the $1.21 per share expected by analysts surveyed by Refinitiv.<\/p>\n<p>Revenue rose 31% to $4.45 billion, outpacing estimates of $4.02 billion.<\/p>\n<p>Kohl&#x27;s expects full-year earnings per share to range from $5.80 to $6.10, up from $3.80 to $4.20.<\/p>\n<p>During the quarter, Kohl&#x27;s repurchased $255 million of its stock. It said it plans to buy back $500 million to $700 million of its shares this year. <\/p>\n<p>Shares of Kohl&#x27;s are up more than 27% year to date as of Wednesday&#x27;s market close, putting the retailer&#x27;s market value at $8.1 billion.<\/p>\n<p><em><strong>This is breaking news. Please check back for updates.<\/strong><\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/08\/19\/kohls-q2-2021-earnings.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kohl&#x27;s reported Thursday fiscal second-quarter earnings that beat analyst expectations and it raised its forecast for the year, as shoppers headed back to its stores. [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":120110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kohl&#x27;s earnings top estimates, retailer raises forecast as higher foot traffic drives sales - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/kohls-earnings-top-estimates-retailer-raises-forecast-as-higher-foot-traffic-drives-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kohl&#x27;s earnings top estimates, retailer raises forecast as higher foot traffic drives sales - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Kohl&#x27;s reported Thursday fiscal second-quarter earnings that beat analyst expectations and it raised its forecast for the year, as shoppers headed back to its stores. 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