第二季度业绩方面，该公司净销售额从上年同期的35.3亿美元下降至33.5亿美元，但超出华尔街预期的 33.2亿美元，调整后每股收益为56美分，远超29美分的市场预期，同店销售额下降4.2%，低于分析师预 估的5%降幅。 周三，柯尔百货(KSS.US)开盘大涨超22%，报15.90美元。消息面上，该公司因上调全年业绩预期，释 放出这家陷入困境的零售商转型策略初见成效的积极信号。财报显示，该公司目前预计，今年同店销售 额降幅将收窄至5%以内，优于此前预估的6%降幅，净销售额将下降5%至6%，较此前预测的降幅5%至 7%有所收窄，同时预计全年每股收益为50至80美分，较此前10至60美分的宽泛预测区间显著提升。 ...

Core Insights - Kohl's Corporation (KSS.US) has raised its full-year performance expectations, indicating that its transformation strategy is beginning to show positive results, leading to a significant increase in stock price [1] Financial Performance - The company now expects same-store sales to decline by less than 5%, an improvement from the previous estimate of a 6% decline. Net sales are projected to decrease by 5% to 6%, better than the earlier forecast of a 5% to 7% decline. The expected earnings per share for the year have been raised to between $0.50 and $0.80, compared to the previous range of $0.10 to $0.60 [1] - In the second quarter, net sales fell from $3.53 billion to $3.35 billion year-over-year but exceeded Wall Street's expectation of $3.32 billion. Adjusted earnings per share were $0.56, significantly higher than the market expectation of $0.29. Same-store sales declined by 4.2%, which was better than the analysts' forecast of a 5% decline [1][2] Strategic Initiatives - Recent initiatives focusing on premium jewelry and optimizing women's apparel have helped Kohl's regain consumer interest. Collaborations with brands like Sephora and Toys "R" Us have stimulated consumer spending and increased foot traffic [2] - The company has introduced more coupons for branded products to maintain loyalty among middle- and low-income customers amid inflationary pressures [2] Leadership and Management Changes - Kohl's has experienced significant leadership changes, with three CEOs in the past three years. The leadership turmoil began in late 2022 when former CEO Michelle Gass left for Levi's. Tom Kingsbury, the former CEO of Burlington Stores, took over but announced his departure after two years. Ashley Buchanan, who succeeded him, was dismissed within four months due to a conflict of interest involving a supplier [3] - Michael Bender, a board member since 2019, is currently serving as the interim CEO while the company searches for a new permanent leader [3] Financial Concerns - The company has extended payment terms with suppliers, a common retail strategy to manage cash flow. Although specific adjustments were not detailed, the company stated it regularly reviews operations for efficiency [4] - Kohl's currently has over $2 billion in debt, including $360 million in recently issued junk bonds intended to pay off debts maturing this year. However, the interim CEO noted that the better-than-expected performance indicates that the company's transformation strategy is gaining consumer acceptance [4] - Inventory levels have improved, with the end-of-quarter inventory reduced to $3 billion, a 5% decrease year-over-year [4]