Kohl’s Earnings: Here’s Why Shares are Up Now
Kohl’s Corp. (NYSE:KSS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.79%.
Kohl’s Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4% to $1.04 in the quarter versus EPS of $1.00 in the year-earlier quarter.
Revenue: Rose 2% to $4.29 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kohl’s Corp. reported adjusted EPS income of $1.04 per share. By that measure, the company missed the mean analyst estimate of $1.05. It missed the average revenue estimate of $4.29 billion.
Quoting Management: Kevin Mansell, Kohl’s chairman, president and chief executive officer, said, “We are pleased with our progress in the second quarter. Sales improved significantly over the first quarter and our gross margin improved over last year. Expenses were well-managed and we ended the quarter with inventory per store up mid-single digits while funding our E-Commerce growth. I would like to thank each of our associates for their contribution to our results.”
Key Stats (on next page)…