Kohl’s Corp. (NYSE:KSS) shares are trending marginally higher today after the retailer posted better-than-anticipated second-quarter numbers. Despite a 4.8% year-over-year decline, revenue of $3.9 billion landed past estimates by $190 million. Additionally, EPS at $0.52 also outperformed expectations by $0.29.
During the quarter, comparable sales decreased by 5%. Kohl’s saw robust sales gains at Sephora and managed to lower inventory by 14%. However, its operating income margin decreased by 233 basis points to 4.2% in Q2.
For the full year 2023, the company expects net sales to decline in the range of 2% to 4% compared to the previous year. EPS for the year is seen landing between $2.10 and $2.70. Earlier this month, Kohl’s announced a quarterly dividend of $0.50 per share. The dividend is payable on September 20 to investors of record on September 6.
Overall, the Street has a consensus price target of $25.91 for Kohl’s, along with a Hold consensus rating. Short interest in the stock currently stands at a whopping 17%.
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