KSS’ Shares Fall Despite 45% Jump In Q1 Profits

Kohl's Corp KSS fell 1.00% in pre-market trading today after it announced better-than-expected results but projected its full year earnings below expectations. Department store chain announced its fiscal Q1 profits of $199 million, or $0.64 a share, as compared to a profit of $137 million, or $0.45 a share, in the year-ago period. The analysts expected earnings at $0.61 a share. KSS’ sales for the quarter grew by 11% to $4.04 billion from $3.64 billion. Kohl's projected its Q2 profit at $0.70-$0.75 a share and raised its 2010 outlook to $3.57-$3.75 a share from a previous forecast of $3.63 a share. Wall Street analysts were expecting KSS to earn $0.88 a share in Q2 and $3.77 per share in the year. Read more from Benzinga's Company news.