Why Kohl's Shares Are Trading Higher Today

Kohl's Corp KSS is trading higher Thursday after the company announced better-than-expected third-quarter financial results and raised guidance.

Kohl's reported quarterly earnings of $1.65 per share, which beat the estimate of 64 cents per share. The company reported quarterly revenue of $4.6 billion, which beat the estimate of $4.27 billion.

Kohl's raised its full-year 2021 earnings guidance from a range of $5.80 to $6.10 per share to a range of $7.10 to $7.30 per share. The company also raised revenue growth expectations from "low-twenties percentage range" to "mid-twenties percentage range."

"All of the pieces of our strategy are coming together and we remain incredibly confident in the future of our business. We are raising our full year 2021 guidance and continue to accelerate our share repurchase activity, reinforcing our commitment to driving shareholder value," said Michelle Gass, CEO of Kohl's.

See Also: A Look Into Kohl's Debt

KSS Price Action: Kohl's has traded as high as $64.80 and as low as $25.38 over a 52-week period.

The stock was up 6.37% at $60.07 at time of publication.

Photo: Mike Mozart from Flickr.