Kohl's (KSS 57.80, +3.44, +6.3%), which refers to itself as an omnichannel retailer and not a department store, provided a holiday sales update for investors and it is the gift that keeps on giving for shareholders.
Shares of KSS, which were up 35% from their lows in November as of Friday's close, are up another 6% today.
The update was upbeat on all fronts and was replete with increased earnings guidance for 2017.
According to Kohl's, all lines of business and all regions reported positive comp sales. There was strong growth in digital demand, and perhaps even more encouraging, Kohl's reported that it enjoyed positive sales in its stores that were driven by stronger traffic.
For November and December combined, Kohl's total and comparable sales increased 6.9% year-over-year.
Based on that impressive sales performance, and the company's expectations for January, Kohl's raised its fiscal 2017 adjusted diluted earnings per share outlook to a range of $3.98 to $4.08 from prior guidance of $3.60 to $3.80.
The raised guidance includes an expectation that the gross margin rate will be higher than last year's fiscal fourth quarter and that the company's SG&A will increase at the high end of Kohl's prior guidance of 0.5% - 2.0%, including the 53rd week.