Kohl's Third-Quarter Earnings Meet Street Estimates

Kohl's Corp. (KSS) reported earnings of 63 cents per share for the quarter ended Oct. 30, unchanged from a year earlier.

The department store operator said net sales rose 4.1% to $4.2 billion. Sales at stores open at least one year rose 1.8%, the company said in a statement.

"We are pleased with our financial results for the third quarter," CEO Kevin Mansell said. "This sales performance, along with strong inventory management, allowed us to continue to increase our gross margin rate."

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For the fourth quarter, Kohl's expects total sales to grow between 4.5% and 6.5%. The company expects comparable store sales to rise between 2% and 4%.

Earnings are expected to be in the range of $1.51 per share to $1.59 per share in the fourth quarter.

The earnings news sent Kohl's shares 1.4% higher in after-hours trading.
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