November 20, 2018 / 12:12 PM / in a month

Kohl's tops same-store sales estimates, raises forecast

Nov 20 (Reuters) - Department store operator Kohl's Corp reported better-than-expected quarterly same-store sales on Tuesday, benefiting from its revamped stores and merchandise as well as its partnerships with Amazon.com and Under Armour.

Net income rose to $161 million, or 98 cents per share, in the third quarter ended Nov. 3, from $117 million, or 70 cents per share, a year earlier.

Sales at stores open at least 12 months rose 2.5 percent, compared with the 1.74 percent rise expected by analysts, according to IBES data from Refinitiv.

Net sales rose to $4.63 billion from $4.57 billion a year earlier. The company also raised its full-year earnings forecast. (Reporting by Soundarya J in Bengaluru Editing by Saumyadeb Chakrabarty)

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