Kohl's Corp. (NYSE:KSS) saw its shares rise in pre-market trading after the company unveiled market-beating fourth quarter results and gave a rather pleasing 2018 guidance.
The department store operator said in the quarter, net income came in at US$468.0mln or US$2.81 per share, sharply higher from the US$252.0mln or US$1.44 per share, in the same corresponding period last year.
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Excluding the tax overhaul and store closures, EPS was US$1.99, well ahead of the US$1.77 pencilled in by analysts.
In the quarter, revenue stood at US$6.78bn, rising from last year’s US$6.21bn, and beating market consensus of US$6.74bn.
Same-store sales grew 6.3%, below market expectations for a 6.5% growth.
Kohl's on Wednesday, hiked its quarterly dividend to 61 US cents,
On its outlook, the retailer is guiding EPS for 2018 to come in between US$4.95 and US$5.45, well-ahead of market expectations for US$4.72.
It is expecting same-store sales to be flat to up 2%, against expectations for a 0.7% hike by Wall Street.
In pre-market, its shares were pointing up, gaining US$0.34 at US$66.43.