Alisha Jucevic/Bloomberg
Shares of Kohl's $KSS -2.71% jumped more than 15% in premarket trading Thursday after the company disclosed comparable sales results that were the strongest in over four years.
For the quarter that closed May 2, the company recorded a net loss of $14 million, equivalent to 13 cents per diluted share. A year earlier, the loss was nearly identical at $15 million, also 13 cents per diluted share. Revenue came in at $3 billion, off 1.7% from a year ago, while comparable sales slipped 1.1%. Wall Street had projected a per-share loss of 19 cents, according to CNBC.
The result represented a notable turnaround in trajectory: comparable sales had dropped 2.8% in the preceding quarter, according to CNBC.
The company stood by its annual guidance, projecting net sales and comparable sales somewhere between flat and a 2% decline, with adjusted earnings per share expected to land between $1.00 and $1.60, the company said.
