Department store operator Kohl's Corporation ( KSS ) on Thursday said its second quarter profit rose 17% from last year, beating analyst estimates, and raised its full-year outlook.
The Monomonee Falls, WI-based company reported second quarter net income of $303 million, or $1.09 per share, compared with $260 million, or 84 cents per share, in the year-ago period.
Revenue rose nearly 4% from last year to $4.25 billion.
On average, Wall Street analysts expected a smaller profit of $1.05 per share on matching revenue of $4.25 billion.
Looking ahead, the company lifted its full-year 2011 earnings forecast to a range of $4.45 to $4.60 per share, up from prior guidance of $4.25 to $4.40.
Kohl's shares rose $1.71, or +3.9%, in premarket trading Thursday.
The Bottom Line
Shares of Kohl's ( KSS ) have a 2.26% dividend yield, based on last night's closing stock price of $44.29. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $49-$50 price levels.
Kohl's Corporation ( KSS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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