To: The Reaper who wrote (2683 ) 8/14/2008 4:54:19 PM From: RockyBalboa Respond to of 6370 bear market must be over > look at KSS tonite, runs to 50, AP Kohl's raises full-year outlook Thursday August 14, 4:29 pm ET Kohl's raises full-year outlook, gives guidance for the rest of the year MILWAUKEE (AP) -- Department store chain Kohl's Corp. raised its outlook for the rest of the year on Thursday, saying it would beat analyst estimates even on the assumption that same-store sales fall as much as 4 percent the rest of the year. The Menomonee Falls, Wis.-based company said it now expects to earn between $3.02 and $3.18 per share for the year. Analysts are predicting Kohl's will earn $3.07 per share for the year, according to a poll by Thomson Reuters. Kohl's announcement marked a reversal from last quarter, when the company lowered its forecast for the year to between $2.95 and $3.15 a share. Its higher outlook is more in line with its original guidance of earnings in a range of $3.15 to $3.50 per share. The guidance assumes that same-store sales fall between 2 percent and 4 percent in both the third and fourth quarters of the year, Kohl's said. In the third quarter, Kohl's said it expects to earn between 51 cents and 56 cents a share, while analysts are predicting 57 cents. In the fourth quarter, Kohl's expects earnings per share of between $1.26 and $1.34. Analysts are predicting $1.30 per share. The company said Thursday its second-quarter profit fell more than 12 percent as same-store sales dipped on a consumer pullback in spending. In the three-month period ending in August, Kohl's said it earned $236 million, or 77 cents per share. That's down from the same period last year, when Kohl's earned $269.2 million, or 83 cents per share. Analysts had expected earnings of 73 cents per share. Sales rose 3.8 percent to $3.7 billion, on par with estimates. But same-store sales fell 4.6 percent. That's a key figure in retailing and measures sales at stores open at least a year. The announcements came after the market closed Thursday. Shares of Kohl's rose 68 cents, or 1.4 percent, to close at $48.27.