Kohl's Corp. reported a slightly higher third-quarter profit on Thursday, as sales perked up later in the period, and the department store operator forecast same-stores sales will rise during the current holiday quarter.
Kohl's, which has 1,146 stores, expects holiday quarter earnings of $2.00 per share to $2.08 per share, compared with the $2.16 Wall Street analysts had been expecting, according to Thomson Reuters I/B/E/S.
Editor's Note: Prepare for Financial Pearl Harbor -- See Surprising Video With Steve Forbes
The retailer, which competes most directly with Macy's Inc and J.C. Penney Co Inc, forecast sales at stores open at least year would be up 3 percent to 4 percent in the quarter that includes the Christmas period, an improvement over the 1.1 percent pace in the third quarter.
Kohl's posted a third-quarter profit of $215 million, or 91 cents per share, up slightly from $211 million, or 80 cents per share, a year earlier.
As previously reported, overall sales rose 2.6 percent to $4.49 billion.
© 2014 Thomson/Reuters. All rights reserved.