Kohl’s Reports Third Quarter Fiscal 2021 Financial Results

*Third quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook
*Third quarter net sales increase 15.5%; third quarter comparable sales increase 14.7%
*Record third quarter diluted earnings per share of $1.65 and company raises full year 2021 guidance to $7.10 to $7.30
*Repurchased $506 million of shares in the quarter and now plans to repurchase $1.3 billion of shares in 2021
*Ended the quarter in a strong financial position with $1.9 billion in cash

“Our strategic efforts to transform Kohl’s into the leading destination for the active and casual lifestyle continue to build momentum. 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.

“All of the pieces of our strategy are coming together and we remain incredibly confident in the future of our business. We are raising our full year 2021 guidance and continue to accelerate our share repurchase activity, reinforcing our commitment to driving shareholder value,” said Gass.
details at: https://investors.kohls.com/news-releases/news-details/2021/Kohls-Reports-Third-Quarter-Fiscal-2021-Financial-Results/default.aspx

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