Kohl's Stock Soars 20% as Struggling Retailer Says Turnaround Effort Is Working
1. Kohl's Q2 profit exceeded forecasts with adjusted EPS of $0.56. 2. Comparable sales decline was smaller than predicted, at 4.2%. 3. Gross margin increased to 39.9% and SG&A expenses dropped 4.1%. 4. Kohl's raised full-year revenue guidance, now expecting a 5-6% drop. 5. Shares surged 20%, hitting their highest level in nine months.