Kohl's Shares Jump 20% After Q1 Sales Beat, Narrowing Loss to 13 Cents

5 articles · Updated · CNBC · May 28

Kohl's stock surged 20% in morning trading after first-quarter results topped Wall Street estimates, with a 13-cent per-share loss versus 19 cents expected and revenue of $3 billion versus $2.99 billion.
Comparable sales fell 1.1% and net sales slipped 1.7%, but that was Kohl's best comparable-sales showing in four years and an improvement from the prior quarter's 2.8% decline.
CEO Michael Bender said cleaner inventory, tighter expense control and a stronger balance sheet are helping the retailer regain traction, though he cautioned the turnaround is still incomplete.
Kohl's reaffirmed full-year guidance for net sales and comparable sales ranging from down 2% to flat, with adjusted EPS of $1 to $1.60.
The rally follows a bruising stretch in which the stock had fallen more than 35% this year through Wednesday, as lower- and middle-income shoppers faced inflation and high energy costs; Kohl's also said it is eligible for about $190 million in tariff refunds.

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