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Kohl’s Earnings Beat Estimates. It Maintains Guidance.

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The retailer posted second-quarter earnings of 52 cents a share. Wall Street was looking for 23 cents.

Kohl’s posted earnings of 52 cents a share, lower than the same quarter last year but above the 23 cents analysts had penciled in.

Net sales in the quarter fell 4.8% from a year earlier to $3.68 billion, slightly lower than Wall Street’s call for $3.76 billion. The retailer reaffirmed its financial outlook for full year 2023, which includes earnings between $2.10 and $2.70 a share. “Our second-quarter earnings were in line with our expectations. We maintained strong sales momentum in Sephora at Kohl’s, reduced inventory by 14%, and managed expenses tightly,” said CEO Tom Kingsbury in the earnings release.Shares of Kohl’s were rising 0.7% to $25.91 in premarket trading Wednesday.

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