Kohls Sees Turnaround Efforts Starting to Kick In, But Sales StillDeclining
News Source : WWD
News Summary
- Kohl's reported second-quarter margin gains, expense reductions and merchandise improvements.
- Net income at the Menomonee Falls, Wisc.-based family-oriented value chain rose to $153 million in the quarter ended Aug. 2.
- Wall Street really liked Kohl’s second- quarter report, pushing the stock price up 24 percent to $16.17 on Wednesday.
- Kohl's now expects annual earnings per share of 50 cents to 80 cents for 2025, compared to its previous forecast of 10 cents to 60 cents.
- Sales are seen declining 5 to 6 percent, while comparable sales are seen dropping 4 to 5 percent.
Turnaround efforts at Kohls, after months and months of work, appear to be starting to pay off.On Wednesday, Kohls reported secondquarter margin gains, expense reductions and merchandise improve [+3359 chars]
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