Kohl’s Reports Second Quarter Fiscal 2021 Financial Results
Highlights: *Second quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook *Second quarter net sales increase 31.4% *Record second quarter diluted earnings per share of $2.48 and company raises full year 2021 guidance to $5.80 to $6.10 *Strengthened financial position during the quarter, ending with $2.6 billion in cash *Repurchased $255 million of shares in the quarter and now plans to repurchase $500 million to $700 million of shares in 2021. “Our performance in the second quarter marked another important step in further establishing Kohl’s as the leading destination for the active and casual lifestyle. We delivered record second quarter earnings with sales and margins materially exceeding expectations. As pleased as we are with our ongoing strategic progress, much of our opportunity is still ahead of us. 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.