UPDATE: Kohl's Reports 16.5% Rise In Q2 Earnings, Lifts 2011 Profit Forecast

Kohl's Corp KSS reported a 16.5% rise in its second-quarter earnings and raised 2011 earnings forecast. Kohl's quarterly earnings surged to $303 million, or $1.09 per share, from $260 million, or $0.84 per share, in the year-earlier period. Its revenue rose to $4.25 billion from $4.1 billion. However, analysts were expecting earnings of $1.05 per share on revenue of $4.25 billion. Kohl's raised its 2011 earnings forecast to $4.45 to $4.60 per share, from its prior outlook of $4.25 to $4.40 per share. Kohl's shares fell 4.88% to close at $44.29 yesterday.