Kohl's Crushes Earnings Views; Stock Dives On Same-Store Sales Outlook

Department store chain Kohl's (KSS) on Tuesday reported first-quarter earnings that were much better-than-expected. Shares initially jumped before the open but then reversed lower. Meanwhile, J.C. Penney (JCP) tumbled as CEO Marvin Ellison bailed to become CEO of Lowe's (LOW), returning to the home improvement retail sector.

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Earnings per share shot up 64% to 64 cents, beating views by 15 cents, according to Zacks Investment Research. Revenue rose 3.4% to $4.208 billion vs. consensus...

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