Kohl's beats expectations with sales bump in third quarter

Kohl's (KSS) reported a slight bump in sales for the third quarter and beat analyst expectations.

Kohl's revenue hit $4.43 billion, up 1.2% from the same period last year. Analysts surveyed by Zacks Investment Research expected revenue of $4.41 billion.

Earnings fell 15% to $120 billion due to a $38 million loss incurred from refinancing some of the company's debt.

The retailer reported earnings per share of 63 cents, down from 70 cents in the year-ago quarter. Earnings per share excluding extinguished debt were 75 cents, which beat expectations for 69 cents.

Sales at stores open at least a year increased 1%, a positive move compared to last year's 1.8% decrease at this time. Kohl's benefited from back-to-school shoppers despite a weak September, CEO Kevin Mansell said in a company statement.

"Most of our key initiatives enjoyed strong success while weakness was concentrated in seasonal businesses," he said.

Shares jumped 6.7% to $46.07 in morning trading.