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Kohl's Reports Second Quarter Fiscal 2021 Financial Results Second quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook Second quarter net sales increase 31.4 % Record second quarter diluted earnings per share of $ 2.48 and company raises full year 2021 guidance to $ 5.80 to $ 6.10 Strengthened financial position during the quarter , ending with $ 2.6 billion in cash Repurchased $ 255 million of shares in the quarter and now plans to repurchase $ 500 million to $ 700 million of shares in 2021 MENOMONEE FALLS , Wis .-- ( BUSINESS WIRE ) -August 19 , 2021-- Kohl's Corporation ( NYSE : KSS ) today reported results for the quarter ended July 31 , 2021 . ● ● ( $ in millions , except per share data ) Total revenue Net sales ( 1 ) Gross margin Selling , general , and administrative expenses Reported Net income ( loss ) ( 1 ) ( 2 ) Diluted earnings ( loss ) per share Non - GAAP ( 2 ) LA LA July 31 , 2021 $ ● ● 4,447 $ 31.4 % 42.5 % 1,241 382 2.48 382 2.48 Three Months August 1 , 2020 $ $ LA GA $ $ Adjusted net ( loss ) income Adjusted diluted ( loss ) earnings per share Represents change in Net sales vs. prior year period . Excludes Loss on extinguishment of debt , Impairments , store closing , and other costs , and Gain on sale of real estate . A LA 3,407 ( 22.9 ) % 33.1 % $ 1,050 47 0.30 ( 39 ) ( 0.25 ) Change Updated 2021 Financial Outlook The Company is raising its full year 2021 financial outlook to include the following : 30.5 % $ 942 bps 18.2 % $ 100 % + $ 100 % + $ 100 % + $ 100 % + $ July 31 , 2021 8,334 $ 46.8 % 40.9 % 2,411 396 2.55 547 3.52 $ SA GA GAGA $ ( 494 ) $ ( 3.21 ) $ Six Months August 1 , 2020 5,835 $ ( 32.8 ) % 26.8 % 2,116 Exhibit 99.1 ( 534 ) ( 3.47 ) Change 42.8 % 1,415 bps 13.9 % " Our performance in the second quarter marked another important step in further establishing Kohl's as the leading destination for the active and casual lifestyle . We delivered record second quarter earnings with sales and margins materially exceeding expectations . As pleased as we are with our ongoing strategic progress , much of our opportunity is still ahead of us . We are on the eve of launching several transformational partnerships that will drive sustainable growth for years to come , " said Michelle Gass , Kohl's chief executive officer . 100 % + 100 % + " Based on our results , we are raising our full year 2021 guidance , which positions us to achieve many of our 2023 strategic goals this year , well ahead of our plan . In addition , we have accelerated our share repurchase activity , underscoring our confidence in the business and our commitment to creating shareholder value , " said Gass . 100 % + 100 % + Net sales is now expected to increase in the low - twenties percentage range compared to the previous expectation of mid - to - high teens percentage range increase Operating margin is now expected to be in the range of 7.4 % to 7.6 % compared to the previous expectation of 5.7 % to 6.1 % Adjusted earnings per share is now expected to be in the range of $ 5.80 to $ 6.10 , excluding any non - recurring charges , compared to the previous expectation of $ 3.80 to $ 4.20 Dividend As previously announced , on August 10 , 2021 , Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $ 0.25 per share . The dividend is payable September 22 , 2021 to shareholders of record at the close of business on September 8 , 2021 . Second Quarter 2021 Earnings Conference Call Kohl's will host its quarterly earnings conference call at 9:00 am ET on August 19 , 2021. A webcast of the conference call and the related presentation materials will be available via the Company's web site at investors.kohls.com , both live and after the call . Cautionary Statement Regarding Forward - Looking Information and Non - GAAP Measures This press release contains " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward - looking terminology such as " believes , ” “ expects , " " may , " " will , " " should , " " anticipates , " " plans , ” or similar expressions to identify forward - looking statements . Such statements are subject to certain risks and uncertainties , which could cause the Company's actual results to differ materially from those anticipated by the forward - looking statements . These risks and uncertainties include , but are not limited to ,