Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kohl’s Climbs After Sales Forecast Exceeds Some Estimates

Aug. 15 (Bloomberg) -- Kohl’s Corp., the third-largest U.S. retailer, rose the most in more than a year after it forecast sales for this quarter that beat some analysts’ estimates.

The shares climbed 5.3 percent to $53.51 at the close in New York, their biggest increase since July 2012. They’ve gained 24 percent this year, compared to 16 percent for the Standard & Poor’s 500 Index.

Kohl’s expects sales during the quarter that ends Nov. 2 to increase by 1 percent to 3 percent, according to a statement today by the Menomonee Falls, Wisconsin-based company. The average of 18 estimates compiled by Bloomberg had been $4.55 billion, which would be up 1.4 percent from a year earlier.

Chief Financial Officer Wes McDonald told investors on the company’s second-quarter earnings conference call that Kohl’s was “very pleased” with initial back-to-school sales.

The company reported profit of $1.04 a share for its second quarter ended Aug. 3, meeting estimates. Sales at stores open at least a year rose 0.9 percent, after larger competitor Macy’s Inc. yesterday posted a 0.8 percent decline.

Kohl’s also forecast annual profit of $4.15 to $4.35 percent a share, reducing the top end by 10 cents from its previous outlook.

To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.