Kohl's Beats Forecasts, Helped by Better Inventory Management
Kohl's posted higher quarterly earnings that surpassed consensus estimates as better inventory management aided profit margins.
The company reported a profit of $209 million, or 64 cents a share, for the first quarter ended May 5, compared with $167.2 million, or 48 cents a share, a year earlier.
Analysts expected 62 cents a share, according to Thomson Financial.
Kohl's also raised its full-year guidance for the 2007 year.
Shares of the company were mostly flat in after-market trading Thursday.