Updated 4:09 p.m. ET Nov. 25

Kohl’s Corp.’s top- and bottom-line results for the third quarter came out ahead of expectations, motivating the company to raise its full-year guidance.

The third-quarter report and the elevated guidance catapulted Kohl’s stock price up 42 percent to $22.41 on Tuesday.

The Menomonee Falls, Wis.-based, value-oriented family chain said the results reflected progress in turnaround initiatives. Private brands, petites, fashion and fine jewelry, Sephora, opening price points and coupons are central to the chain’s strategy.

Net sales for the third quarter ended Nov. 1 decreased 2.8 percent year-over-year, to $3.4 billion, from $3.5 billion, with comparable sales down 1.7 percent.

Net income was $8 million, or 7 cents per diluted share, and adjusted net income

See Full Page