Kohl’s Corp (NYSE:KSS) shares are trading higher after the company reported second-quarter earnings.
The company reported a net sales decline of 4.2% Y/Y to $3.525 billion, with comparable sales for the quarter decreasing 5.1% Y/Y. Total revenue stood at $3.732 billion. The analyst consensus estimate was $3.583 billion.
Read: Kohl’s Q2 Earnings To Likely Miss Last Year’s Results, Says Analyst
Gross margin for the quarter expanded by 59 basis points to 39.6%. Operating income for the quarter was $166 million versus $163 million last year. The operating margin expanded 26 basis points Y/Y to 4.4%.
Selling, general and administrative expenses decreased 4.2% Y/Y to $1.2 billion. As a percentage of total revenue, SG&A expenses were 33.5%, an decrease of 1 basis points Y/Y. EPS was $0.59, beating the analyst consensus estimate of $0.44.
Inventory at the end of the quarter was $3.2 billion, down 9% Y/Y. Kohl’s held $231 million in cash and equivalents as ...
