Kohl's Corporation KSS posted upbeat earnings for its fourth quarter on Tuesday.
Kohl’s reported a fourth-quarter FY23 sales decline of 1.1% year-on-year to $5.71 billion, beating the analyst consensus estimate of $5.70 billion.
Selling, general and administrative expenses decreased 4% Y/Y to $1.6 billion. EPS of $1.67 beat the analyst consensus estimate of $1.28.
“Our store business had its best comparable sales performance since 2010, Sephora at Kohl’s continued to drive meaningful beauty sales growth, and we managed inventory down 10% at year end,” said CEO Tom Kingsbury.
For FY24, Kohl’s expects sales growth of (1)% – 1%. It expects FY24 EPS, excluding any non-recurring charges, of $2.10 – $2.70 versus the Street view of $2.61.
Kohl’s expects an FY24 operating margin of 3.6% – 4.1% and capital expenditures of about $500 million, including expansion of its Sephora partnership and other store-related investments.
Kohl’s shares fell 6.7% to close at $34.29 on Tuesday.
These analysts made changes to their price targets on Kohl’s following merger news
- Telsey Advisory Group raised the price target on Kohl’s from $25 to $28. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating.
- JP Morgan increased the price target on Kohl’s from $20 to $21. JP Morgan analyst Matthew Boss maintained a Neutral rating.
- TD Cowen boosted the price target on Kohl’s from $28 to $31. TD Cowen analyst Oliver Chen maintained an Outperform rating.
Check This Out: Brightcove And 2 Other Stocks Under $3 Insiders Are Buying
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.