Department store chain Kohl’s Corp. (NYSE:KSS) reported strong comparable store sales growth in June, as warmer weather drove customer purchases, the company said.
In morning trade, its shares jumped 6.64% to $55.55.
For the five week period ending July 2, Wisconsin-based Kohl's same store sales for June grew 7.5%, compared to last year's growth of 5.9%, beating analysts forecasts of 2.9%.
Revenue from stores open at least a year is a key indicator of a retailer's health because it excludes stores that recently opened or closed.
Sales in weather sensitive regions like the Midwest, Mid-Atlantic and Northeast regions, reported strong sales, resulting from favourable weather conditions, said CEO Kevin Mansell.
The U.S.-based company also said that all lines of business saw solid gains in sales.
Total sales increased 9.2% for the month to $1.75 billion.
Kohl's is a specialty department store offering brand apparel, shoes, accessories, beauty and home products. It operates 1,097 stores in 49 states.