Kohl’s third quarter net sales increased 15.5 percent to 4600 million dollars; while third quarter comparable sales increased 14.7 percent. The company reported diluted earnings per share of 1.65 dollars and raised full year 2021 guidance to 7.10 dollars to 7.30 dollars.
“We delivered another quarter of record earnings with both sales and margins exceeding expectations. During the quarter, we drove accelerated growth in active and successfully launched several new brand partnerships, including the initial rollout of 200 Sephora at Kohl’s stores, which are off to a great start,” said Michelle Gass, Kohl’s chief executive officer in a release.
The company said net sales are now expected to increase in the mid-twenties percentage range compared to the previous expectation of low-twenties percentage range increase, operating margin to be in the range of 8.4 percent to 8.5 percent compared to the previous expectation of 7.4 percent to 7.6 percent and adjusted earnings per share to be in the range of 7.10 dollars to 7.30 dollars compared to the previous expectation of 5.80 dollars to 6.10 dollars.
As previously announced, on November 10, 2021, Kohl’s board of directors declared a quarterly cash dividend on the company’s common stock of 25 cents per share payable December 22, 2021 to shareholders of record at the close of business on December 8, 2021.