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Kohl's shares jump after Q2 EPS beat; FY'19 EPS outlook reaffirmed

Kohl's Corp.'s shares rose 5.5% in premarket trading Aug. 20 after reporting fiscal second-quarter adjusted EPS that beat analysts' expectations and maintained its guidance for the fiscal year.

The retailer reported that adjusted diluted EPS for the quarter ended Aug. 3 was $1.55, down 12% from $1.76 in the year-ago quarter but slightly beating the mean consensus estimate for normalized EPS of $1.53, according to data compiled by S&P Global Market Intelligence.

For the second quarter, adjusted net income fell 15% to $247 million from $292 million in the year-ago period, while total revenue dropped 3.1% to $4.43 billion from $4.57 billion in the year-earlier quarter. Comparable sales in the second quarter fell by 2.9%, compared to the 3.1% growth reported in the year-earlier period.

"We are pleased to report that our business strengthened as we progressed through the second quarter. Comparable sales were better than the first quarter and improved during the period, turning positive during the last six weeks of the second quarter with 1% growth," CEO Michelle Gass said in a statement.

For the first half of fiscal 2019, adjusted diluted EPS dropped 10% to $2.15 from $2.40 in the year-ago period, while adjusted net income fell 14% to $345 million from $399 million in the first half of the prior year. Total revenue for the first half of fiscal 2019 fell 3% to $8.52 billion from $8.78 billion in the year-ago period.

Kohl's reiterated its outlook for full year 2019. The retailer continues to expect adjusted diluted EPS between $5.15 and $5.45, excluding 26 cents per share from impairments, store closings and other costs during the first half of the year.

The company also reported its board on Aug. 13 declared a dividend of 67 cents per share, payable on Sept. 25 to shareholders of record at the close of business Sept. 11.

In premarket trading, Kohl's shares were up 5.5% at $50.85.