(Reuters) - Department store operator Kohl's Corp raised its full-year profit forecast and posted better-than-expected quarterly same-store sales on Tuesday, as it moved trendier fashion to stores quicker and bolstered its online business.
The company now expects full-year earnings forecast of $5.16 - $5.36 per share, compared with from its prior forecast of $4.96 - $5.36.
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.
Net sales rose to $4.63 billion from $4.57 billion 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.
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Excluding items, Kohl's earned 98 cents per share, beating analysts' estimate of 96 cents, according to IBES data from Refinitiv.
(Reporting by Jaslein Mahil and Soundarya J in Bengaluru; Editing by Saumyadeb Chakrabarty)
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