(Filed Under Financial and General Interest News). Kohl’s Corp. reported that diluted earnings per share rose to $1.09 in the second quarter ended July 30, up from 84 cents a share in the prior year’s period.
Net income jumped to $303 million from $260 million one year ago. Net sales increased 3.6 percent to $4.2 billion, while comparable store sales rose 1.9 percent.
"I am extremely pleased with our ability to deliver strong earnings growth in a challenging sales environment," Kohl’s president, chairman and chief executive officer Kevin Mansell said in a statement.
For the third quarter, Kohl’s Corp. expects sales to increase between 4 and 6 percent; comparable store sales to rise 2 to 4 percent; and selling, administrative and general expenses to increase 1.5 to 3 percent. Due to second quarter performance and third quarter estimates, Kohl’s is raising its fiscal 2011 guidance to $4.45 to $4.60 per share, up from a range of $4.25 to $4.40.
Menomonee Falls, Wis.-based Kohl’s Corp. operates 1,097 stores in 49 states.
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