Jefferies Reiterates Hold Rating on Kohl's

Jefferies maintains its Hold rating on Kohl's Corporation (NYSE: KSS) on the company's earlier opening times over holiday weekend and increased promotions YoY.

In its report, Jefferies comments, “We are forecasting comp store sales flat to +2%. The consensus estimate is +2% and management's plan is to be toward the lower end of the +2.0 to 4.0% quarterly plan. Kohl's faces a more difficult one and two year comparison in November, and we also think that warmer weather y/y was a headwind in the month. We think this was partially offset by a solid holiday weekend performance.”

KS closed at $52.28 per share on Monday.