Kohl's reported second-quarter results on Wednesday that showed profit and net sales both declined from a year ago, even as a one-time tariff refund lifted the company's full-year earnings outlook.
Net sales fell to $3.32 billion from the prior year period, and same-store sales declined 0.9%. Profit came in at $151 million, or $1.28 per share, down from $153 million, or $1.35 per share, a year earlier.
Kohl's stock fell 5% to $16.75 in premarket trading on Wednesday.
Of the $150 million in IEEPA tariff refunds the retailer collected during the quarter, roughly $100 million reached gross margin, the Wall Street Journal reported.
With the tariff refund factored in, Kohl's updated its full-year adjusted earnings per share outlook to $1.80 to $2.40, compared with its previous guidance of $1.00 to $1.60, the company said. The company also tightened its full-year net sales and comparable sales guidance, bringing the range to flat to down 1.5% from a previously projected band of flat to down 2%.
#tariff
Net sales fell to $3.32 billion from the prior year period, and same-store sales declined 0.9%. Profit came in at $151 million, or $1.28 per share, down from $153 million, or $1.35 per share, a year earlier.
Kohl's stock fell 5% to $16.75 in premarket trading on Wednesday.
Of the $150 million in IEEPA tariff refunds the retailer collected during the quarter, roughly $100 million reached gross margin, the Wall Street Journal reported.
With the tariff refund factored in, Kohl's updated its full-year adjusted earnings per share outlook to $1.80 to $2.40, compared with its previous guidance of $1.00 to $1.60, the company said. The company also tightened its full-year net sales and comparable sales guidance, bringing the range to flat to down 1.5% from a previously projected band of flat to down 2%.
#tariff
2 months ago
