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Kohl's Reports Q2 Earnings Beat

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Kohl's Reports Q2 Earnings Beat

Kohl's (NYSE: KSS) reported second-quarter earnings of $1.55 per share, which beat the analyst consensus estimate of $1.53 by 1.31%. This is a 11.93% decrease over earnings of $1.76 per share from the same period last year.

The company reported quarterly sales of $4.43 billion, which beat the analyst consensus estimate of $4.2 billion by 5.48%. This is a 3.06% decrease over sales of $4.57 billion the same period last year.

Kohl's reaffirmed fiscal year 2019 EPS guidance of $5.15-$5.45 versus the $5.23 estimate.

"We are pleased to report that our business strengthened as we progressed through the second-quarter,” said CEO Michelle Gass. “Comparable sales were better than the first-quarter and improved during the period, turning positive during the last six weeks of the second quarter with 1% growth. This positive trend has continued into August driven by a successful start to the back-to-school season.

"We are confident that our upcoming brand launches, program expansions, and increased traffic from the Amazon returns program will incrementally contribute to our performance during the balance of the year and beyond."

Kohl's shares were trading up 4.15% at $50.20 in Tuesday’s pre-market session. The stock has a 52-week high of $83.28 and a 52-week low of $43.33.

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Photo credit: MB298, via Wikimedia Commons

Posted-In: Earnings News Best of Benzinga

 

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