Shoppers walk in front of a Kohl’s store in Mount Kisco, New York.
Scott Mlyn | CNBC
Kohl’s stock jumped 10% in premarket trading Thursday after the retailer reported its best comparable sales performance in four years.
The retailer said its net sales decreased 1.7% and its comparable sales slid 1.1% in its fiscal first quarter as it aims to turn around its business and regain market share. In the prior quarter, Kohl’s reported that comparable sales dropped 2.8% from the previous year.
Here’s how the company performed in its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Loss per share: 13 cents vs. 19 cents expected
- Revenue: $3 billion vs. $2.99 billion expected
For the period ended May 2, Kohl’s reported a net loss of $14 million, or 13 cents per share, compared to a net loss of $15 million, or 13 cents per share, the year prior. Revenue declined from $3.05 billion to $3 billion.
Kohl’s reaffirmed its full-year outlook, expecting net sales and comparable sales to be in a range of down 2% to flat. It expects adjusted earnings per share of between $1 and $1.60.
“We are pleased with our start to 2026,” CEO Michael Bender said in a statement. “Our key initiatives continue to drive progressive improvements to the business, resulting in our best comparable sales performance in over four years. In addition, we continue to manage the business with great discipline leading to strong expense management, cleaner inventories, and an improved balance sheet.”
Kohl’s has been struggling with declining sales, coupled with macroeconomic pressures, leading the stock to dive over 35% this year as of Wednesday’s market close.
