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Kohl's exceeded Wall Street's expectations in its second-quarter earnings, sending its shares up over 20%. Despite a sales decline and leadership changes (with three CEOs in three years), the company narrowed its full-year sales guidance and improved its earnings per share outlook. Kohl's attributed the positive results to inventory reduction, expense cuts, and improved customer engagement. However, sales still decreased, and the company is undergoing a significant turnaround effort involving expanded departments, exclusive merchandise, and promotional changes.

Prepared by Christopher Adams and reviewed by editorial team.