Kohl's Corporation (NYSE: KSS ) shares were surging on Monday following the news of the company's holiday sales report.
The company now projects to earn between $4.10 and $4.20 per share, well ahead of the previous estimate of $3.72 to $3.92 per share. On an adjusted basis, the retailer sees its earnings being between $3.98 and $4.08 per share, ahead of its previous outlook of $3.60 to $3.90 per share.
The figure is excluding a fourth-quarter tax settlement that will set the company back $30 million. Analysts polled by Thomson Reuters expect Kohl's to earn roughly $3.64 per share.
"All lines of business and all regions reported positive comp sales," CEO Kevin Mansell said in a statement. "As expected, growth in digital demand accelerated significantly in the holiday period from the year-to-date trend."
Part of Kohl's recent success stems from its partnerships with companies such as Amazon.com, Inc. (NASDAQ: AMZN ), as well as popular athletic apparel companies such as Adidas , Under Armour Inc (NYSE: UA ) and Nike Inc (NYSE: NKE ), reeling in more consumers to shop at the retailer.
Additionally, Kohl's adds that these adjustments to earnings don't include the expected impact of upcoming changes in the nation's federal tax legislation, which are slated to have a "positive impact" on the retailer's effective tax rate, as well as fueling other non-cash tax benefits.
KSS stock is soaring 5.8% on Monday.
More From InvestorPlace
- 5 Dividend Growth Stocks to Buy for Bigger Returns
- 10 Startups to Watch in 2018
- 10 Stocks That Could Surprise in 2018
The post Kohl's Corporation (KSS) Stock Soars on Sizzling Holiday Sales appeared first on InvestorPlace .