Kohl announces its results for the second quarter of 2019

Kohl's said Tuesday that a good start to the season for back to school and a new partnership with Amazon had allowed the retailer to exceed Wall Street's earnings guidance in the second quarter.

The company's shares jumped about 5% in pre-sale trading, despite missing estimates.

Here's how the company compared its expectations to those of Wall Street, according to Refinitiv's consensus estimates:

• Adjusted earnings per share: $ 1.55, compared to an estimated $ 1.53
• Net sales: $ 4.17 billion, compared to an estimated $ 4.2 billion
• Same store sales: down 2.9% and down 2.5% estimated

"We are pleased to announce that our business has strengthened in the second quarter," said Michelle Gass, Kohl's CEO, in a statement announcing the results of the second quarter. "Comparable sales were better than the first quarter and improved over the period, turning positive in the last six weeks of the second quarter with 1% growth."

Net income for the quarter ended August 4 slipped more than 17% to $ 241 million, or $ 1.51 per share, down $ 292 million, or $ 1.76 per share, ago a year. Net sales fell to $ 4.17 billion from $ 4.3 billion a year ago. Sales in the company's stores lasted more than a year fell by 2.9%, which is higher than Wall Street estimates that it would have decreased by 2.5%.

In April, Kohl's announced that it would begin accepting Amazon returns in all of its stores, thus strengthening its partnership with the e-commerce giant in an effort to increase pedestrian traffic in his stores. The relationship between the two companies began in the spring of 2017, when Kohl's started selling Amazon gadgets such as Fire TV and Echo Dot in its stores.

"We are confident that upcoming brand launches, program extensions, and increased traffic generated by Amazon's return program will gradually contribute to improving our performance throughout the year." and beyond, "said Gass.

More recently, the company also announced the signing of an agreement with Fanatics for the online sale of items such as licensed NFL jerseys and NBA t-shirts. This partnership has made Fanatics the exclusive distributor of all Kohl's licensed sportswear and accessories. This initiative is part of a larger push of the retailer in the field of sportswear. He has also started renting his own surplus properties to gym operator Planet Fitness, who will open offices next to Kohl's.

The company's shares have fallen more than 27% since January, bringing its market value to about $ 7.8 billion.

Correction: This story has been corrected to reflect the fact that Kohl's net sales, not total revenue, were missing Wall Street estimates.