Shares of Kohl’s Corp. (NYSE:KSS) surged in pre-market trading at the time of publishing on Wednesday after the department store chain announced Q1 earnings of $0.13 per share versus $0.11 in the same period last year while analysts were expecting the retailer to swing to a loss of $0.42 per share.
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The company’s net sales declined by 3.3% year-over-year to $3.4 billion while comparable sales fell by 4.3%.
Looking forward, the management reaffirmed its FY23 guidance and continues to expect net sales to decline in the range of 2% to 4% with adjusted earnings between $2.10 and $2.70 per share.
Analysts remain sidelined about KSS stock with a Hold consensus rating based on three Buys, four Holds, and three Sells.
