Kohl’s Corporation said second quarter net sales increased 31.4 percent to 4,447 million dollars. The company reported second quarter diluted earnings per share of 2.48 dollars and raised full year 2021 guidance to 5.80 dollars to 6.10 dollars.
“We delivered record second quarter earnings with sales and margins materially exceeding expectations. We are on the eve of launching several transformational partnerships that will drive sustainable growth for years to come,” said Michelle Gass, Kohl’s chief executive officer.
The Company is raising its full year 2021 financial outlook. The company said, net sales is now expected to increase in the low-twenties percentage range compared to the previous expectation of mid-to-high teens percentage range increase, operating margin is now expected to be in the range of 7.4 percent to 7.6 percent compared to the previous expectation of 5.7 percent to 6.1 percent.
Adjusted earnings per share is now expected to be in the range of 5.80 dollars to 6.10 dollars compared to the previous expectation of 3.80 dollars to 4.20 dollars.
On August 10, 2021, Kohl’s board of directors declared a quarterly cash dividend on the company’s common stock of 25 cents per share. The dividend is payable September 22, 2021 to shareholders of record at the close of business on September 8, 2021.