Consumer
Kohl’s Shares Rise as It Lifts Full Year Profit Outlook
- Company experienced softness in core business last quarter
- Consumers increasingly selective in their spending, CEO says
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Kohl’s Corp. raised its full-year profit outlook as the retailer trims expenses and reduces inventory levels amid a pullback from consumers.
The company now sees adjusted earnings per share of as much as $2.25, up from as much as $1.85 previously and well above Wall Street’s expectations. The company says its guidance no longer includes the potential negative impact from regulatory changes to credit card late fees by the Consumer Financial Protection Bureau.