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By Karen Roman
Kohl’s Corp. (NYSE: KSS) shares rose 4% in early trade Thursday after the company said its first quarter loss narrowed to $15 million, or 13 cents a share, surpassing analysts’ expectations of 22 cents a share.
Kohl’s earnings were above its previous expectations issued in early May, when it also reported the appointment of Michael Bender as interim CEO.
The company confirmed its full-year outlook with sales expected to decline 5% to 7% and EPS projected between $0.10 and $0.60, it said in a statement.
“Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact,” said Bender. “Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers.”
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