Shoppers walk in front of a Kohl’s store in Mount Kisco, New York.
Scott Mlyn | CNBC
Kohl’s shares surged more than 8% in pre‑market trading on Thursday following the retailer’s strongest comparable‑sales gain in four years.
The company reported a 1.7% decline in net sales and a 1.1% drop in comparable sales for the fiscal first quarter as it works to turn around its business and regain market share. In the prior quarter, comparable sales fell 2.8% year‑over‑year.
Below is a summary of the company’s first‑quarter results compared with Wall Street expectations, according to a survey of analysts by LSEG:
- Loss per share: 13 cents versus the 19‑cent expected
- Revenue: $3.0 billion versus the $2.99 billion expected
For the quarter ending May 2, Kohl’s reported a net loss of $14 million, or 13 cents per share, compared with a $15 million loss, or 13 cents per share, a year earlier. Revenue slipped from $3.05 billion to $3.0 billion.
Kohl’s reaffirmed its full‑year outlook, projecting net sales and comparable sales to decline by 2% or remain flat, and forecast adjusted earnings per share of $1.00 to $1.60.
“We are pleased with our 2026 start,” CEO Michael Bender said. “Our key initiatives are driving steady improvements, delivering our strongest comparable‑sales performance in more than four years, while disciplined cost management, cleaner inventories and a stronger balance sheet enhance the business.”
The retailer has faced declining sales amid broader macroeconomic pressures, contributing to a more than 35% decline in its share price year‑to‑date through Wednesday’s close.