Why Are Kohl's Shares Trading Higher Today - Kohl's (NYSE:KSS)

Kohl's Corp KSS reported fourth-quarter FY21 sales growth of 5.8% year-on-year, to $6.499 billion, missing the consensus of $6.54 billion.
Gross margin for the quarter expanded by 124 basis points to 33.2%. The operating margin was 6.9%, and operating income for the quarter rose 42.4% Y/Y to $450 million.
Selling, general and administrative expenses increased 5.2% Y/Y to $1.7 billion.
Adjusted EPS of $2.20 beat the consensus of $2.12.
Related: Kohl's Dismisses Takeover Offers: What Investors Need To Know
Kohl's held $1.6 billion in cash and equivalents as of January 29, 2022. Cash provided by operating activities for twelve months totaled $2.3 billion.
The company doubled its quarterly cash dividend to $0.50 from $0.25 per share, payable on March 30, 2022, to shareholders of record on March 16, 2022.
Kohl's board approved a $3.0 billion share repurchase authorization, and the company plans to repurchase at least $1.0 billion in shares in 2022, of which $500 million is expected to be repurchased in Q2.
Outlook: Kohl's sees FY22 EPS of $7.00 - $7.50. The company expects FY22 sales growth of 2% to 3% versus last year. The operating margin for FY22 is expected to be 7.2% - 7.5%.
Price Action: KSS shares are trading higher by 2.77% at $57.16 on the last check Tuesday.