Kohl’s Corp. (KSS) stock prices were up by 6.46% shortly after market trading commenced on August 19th, 2021. This brought the price per share up to USD$55.20 early on in the trading day.
Net Sales and EPS
Net sales for the second quarter of 2021 were up by 31.4% as compared to the prior-year quarter. KSS stock also reported record second-quarter earnings per share in the amount of USD$2.48 per diluted share. Both net sales and EPS exceeded expectations, resulting in the company raising its full-year financial outlook for 2021. Guidance for diluted earnings per share has been bumped up to range from USD$5.80 to USD$6.10. The quarter ended with the company reporting a strong liquidity position with USD$2.6 billion in cash. The second quarter also saw the company repurchase USD$255 million of shares. The company forecasts repurchasing from USD$500 million to USD$700 million of shares over the rest of fiscal 2021.
KSS Stock Exceeds Expectations
The company performance over the second quarter of fiscal 2021 consolidated KSS stock as a leading option for active and casual lifestyles. The delivery of record EPS and the exceeding of forecasts, the company continues to facilitate its strategic progress. The upcoming quarters are rife with opportunity, with the company on the cusp of launching several transformational partnerships. This is expected to drive sustainable growth for the upcoming years.
Net Sales Reports
Net sales are now expected in the low-twenties percentage range, up from a previous forecast of mid-to-high teens percentage range increase. The second quarter of fiscal 2021 saw KSS stock report operating margin expected in the range of 7.4% to 7.6%. This is up from the range of 5.7% to 6.1% that was previously forecasted for the full fiscal year 2021.
KSS Stock’s Dividend
August 10th, 2021 saw KSS stock report its Board of Directors having approved and declared a quarterly cash dividend. The dividends on the company’s common stock will be value at USD$0.25 per share to shareholders of record as of the close of market trading on September 8th, 2021. The dividend will be payable on September 22nd, 2021.
Future Outlook for KSS Stock
The company reported a stellar second quarter of fiscal 2021, with KSS stock having raised full year guidance accordingly. The company is keen to execute its business plan in order to usher in organic growth over the long term. Investors are hopeful that management will be able to drive significant and sustained increases in shareholder value.
