Kohl's Corporation (KSS) reported a reduced quarterly loss, supported by an improvement in comparable store sales, signaling steady progress in its strategic transformation.

For the quarter ended May 2, the department store chain posted a net loss of $14 million, an improvement from a loss of $15 million in the same period last year. The loss per share was $0.13, which was better than the analyst consensus estimate of a $0.16 per share loss, as compiled by FactSet.

Total revenue for the quarter declined by 1.7% year-over-year to $3 billion, largely in line with market expectations. Comparable store sales, which exclude the impact of store openings and closures, decreased by 1.1%. This performance was better than the 1.7% decline analysts had anticipated.

Chief Executive Officer Michael Bender noted that this represents the company's best comparable sales performance in over four years. He attributed the slight decline to normal fluctuations as the business undergoes optimization. Bender further stated, "Additionally, the company continues to refine its operations, demonstrating significant success in cost control. Inventory structure has been further optimized, and the balance sheet condition has improved."

Following the earnings release, the company's stock rose 8.7% in pre-market trading to $14.05.

For the full fiscal year, Kohl's reaffirmed its previous guidance. The company expects adjusted earnings per share to be in the range of $1.00 to $1.60, compared to the analyst consensus estimate of $1.36. Kohl's anticipates full-year comparable store sales and total revenue to decline in the range of 2% to flat, whereas Wall Street forecasts a 0.5% decrease in comparable sales.