Deutsche Bank Reiterates Hold Rating on Kohl's Corporation on Extended Period for Kohl's Cash
In a report published Monday, Deutsche Bank reiterated its Hold rating on Kohl's Corporation (NYSE: KSS).
Deutsche Bank noted, “This past weekend, Kohl's highlighted its monthly credit event which runs 3/6 to 3/13 this month (comparable to the 3/7 to 3/14 event run a year ago). Every $50 spent during the 5 day period of 3/6 to 3/10 will receive $10 in Kohl's cash which is also comparable to a year ago, however, we note that the cash can be used from 3/11 to 3/30 this year, 7 days more than the 3/12 to 3/24 period during 2012. Turning to the merchandise, we noticed KSS prominently highlighted savings on national product using the tag-line ‘Great Brands' including Levi's, Lee, Nike, Keurig, and Carter's. This follows last week's introduction of Haggar 1926 Originals and Bostonian footwear in its circular, showcasing efforts to improve its national brand performance, in our view.”
Kohl's Corporation closed on Friday at $46.66.
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Tags: Deutsche Bank