Menomonee Falls, WI, August 12--Kohl's reported second quarter earnings of $187.2 million, or $0.54 per share, up from $146.9 million, or $0.43 per share, in the year-ago period.
Analysts, on average, had expected per-share earnings of $0.52.
Sales rose 15.6% to $2.9 billion in the quarter, while sales at stores open at least one year, a key measure known as same-store sales, rose 5.1%. Gross margin as a percentage of net sales in the quarter rose to 37% from 36.4%.
The company said it expects to earn between $2.42 and $2.50 per share in fiscal 2005 and forecast a mid-single digit percentage gain in same-store sales for the fall season.
The said it expected earnings of between $0.43 and $0.46 per share for the third quarter, below analysts' average expectations for $0.48 per share. For the fourth quarter, the company said it expects to earn between $1.10 and $1.14 per share. Analysts are looking for fourth quarter earnings of $1.10 per share.
