Kohl's Corp. (KSS) reported December same-store sales that
missed analysts' expectations but raised the low end of its
earnings forecast for the fourth quarter.
Shares were down 1.3% at $53.20 in recent premarket trading. The
stock has declined 1.5% the past year.
The department-store operator, which sells midprice apparel,
accessories and home decor, has benefited from its expansion of
private-label and exclusive brands. In November it reported its
fiscal third-quarter profit edged up 0.5% as expenses grew along
with higher sales and margins.
Thursday, Kohl's said same-store sales increased 3.9% last
month, falling short of the 4.3% average estimate of analysts
polled by Thomson Reuters.
The company raised the low end of its earnings view for the
fourth quarter by 4 cents, now projecting $1.62 to $1.66 a
share.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com