Kohl’s Corporation shares soared more than 42% after it upgraded its full-year profit forecast.
The American department-store retail chain said net income was $8 million, or $0.07 diluted earnings per share (EPS), and adjusted net income was $11 million, or $0.10 adjusted EPS, in the third quarter of fiscal 2025.
This compared to net income of $22 million, or diluted EPS of 20 cents, in Q3 of the prior year.
“We are pleased with Kohl’s third quarter results, marking a third consecutive quarter of delivering top-line and bottom-line performance ahead of our expectations,” Chief Executive Officer Michael Bender said in a news release.
He was appointed CEO the prior day.
“These results are a direct reflection of the progress we are making against our 2025 initiatives, reinforcing our confidence as we continue to move in the right direction.
“We are focused on building on this momentum, as we remain committed to delivering quality products, great value, and a frictionless experience to our customers in an uncertain macroeconomic environment.”
The company raised its full year 2025 financial outlook with adjusted EPS share to be between $1.25 and $1.45, versus its prior range of 50 cents to 80 cents.
The company forecast annual sales to decline in the range of 3.5% to 4%, compared with a decrease of 5% to 6% previously estimated.
Kohls shares (NYSE: KSS) closed $6.66 or 42.26% higher at $22.42 on Tuesday, capitalising the company at $2.51 billion.
Kohl's shares have more than doubled since Bender took on the interim CEO role in May.
