Kohl’s Corporation said second quarter net sales increased 31.4 percent to 4,447 million dollars. The company reported second quarter earnings per share of 2.48 USD and increased its full-year 2021 guidance from 5.80 to 6.10 US dollars.
“We delivered record second quarter earnings with sales and margins materially exceeding expectations.” Michelle Gass, Kohl’s chief executive officer, stated that we are about to launch several transformational partnerships which will drive sustainable growth over the next few years.
The Company is raising its full year 2021 financial outlook. According to the company, net sales are now expected to rise in the low-20s percentage range, compared with the earlier expectation of mid-to high teens percentage range increases. Operating margin is now expected be between 7.4 percent and 7.6 percent, compared to the previously expected 5.7 percent to 6.1%.
Adjusted earnings per share is now expected to be in the range of 5.80 dollars to 6.10 dollars compared to the previous expectation of 3.80 dollars to 4.20 dollars. To shareholders who were registered at the close on September 8, 2021, the dividend will be payable on September 22, 2021.
