Kohl’s CEO Michelle Gass told The Associated Press during a phone interview on Tuesday that the chain is seeing a momentum in its business, and called the Sephora shops a “game changer.” And while shopping at its stores are not yet back at a normal rate, she believes that Kohl’s will recover some of that. She also noted that Kohl’s will be ready when shoppers start going out more, but that casual dressing will still be important.
Kohl’s earned $343 million, or $2.20 per share, for the quarter ended Jan. 30. That compares with $265 million, or $1.72 per share, in the year-ago period. Adjusted earnings was $2.22, well ahead of the $1.01 per share that analysts forecast, according to FactSet.
Sales reached $6.14 billion, down from $6.83 billion in the year-ago period. But results surpassed the $5.88 billion that analysts had expected, according to FactSet.
Kohl’s expects net sales for the current year to increase in the mid-teens percentage range. The company also forecasts that per-share range should be anywhere from $2.45 to $2.95 for the year. Analysts forecast $2.65 per share, according to FactSet.
Shares rose 50 cents to $57.49 in late morning trading.
