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Kohl’s stock up after second-quarter earnings top analyst estimates

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Kohl’s Corp. stock was up by 2% in premarket trades Wednesday after the retailer topped its second-quarter profit target, although it said it could miss...

Kohl’s Corp. stock KSS, -10.35% was up by 2% in premarket trades Wednesday after the retailer topped its second-quarter profit target, although it said it could miss analyst estimates for its full-year earnings at the low end of its projected range.

Kohl’s said its second-quarter profit dropped to $58 million, or 52 cents a share, from $143 million, or $1.11 a share, in the year-ago quarter. The latest figure handily topped the FactSet consensus estimate of 23 cents a share. Sales by Kohl’s fell by about 4.8% to just under $3.9 billion, ahead of the analyst forecast of $3.76 billion. Looking ahead, Kohl’s expects adjusted 2023 profit of $2.10 to $2.70 a share, compared to the analyst view of $2.38 a share.

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