KSS Stock Soars Pre-Market After Turnaround Efforts Lift Profit Forecast

Kohl’s now expects annual adjusted earnings per share in the range of $1.25 to $1.45, compared with the previous forecast of $0.50 to $0.80.

Kohl’s (KSS) stock surged nearly 22% before the bell on Tuesday as the department store chain raised its annual profit forecast and expects a smaller drop in full-year comparable sales, benefiting from its efforts to introduce a fresh lineup of products.

The department store chain is in the midst of a turnaround to revive its fortunes by closing underperforming stores, introducing a better product lineup, and offering affordable private-label products.

Kohl’s now expects annual adjusted earnings per share in the range of $1.25 to $1.45, compared with the previous forecast of $0.50 to $0.80. The company now expects comparable sales to decline between 2.5% and 3%, down from its prior expectation of a 4% to 5% decline.

“We are pleased with Kohl’s third quarter results, marking a third consecutive quarter of delivering top-line and bottom-line performance ahead of our expectations,” CEO Michael Bender said.

“These results are a direct reflection of the progress we are making against our 2025 initiatives, reinforcing our confidence as we continue to move in the right direction,” he added.

Get updates to this developing story directly on Stocktwits.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<