Kohl's (KSS) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of $0.04. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -700%. A quarter ago, it was expected that this department store operator would post earnings of $1.24 per share when it actually produced earnings of $1.67, delivering a surprise of 34.68%. Over the last four quarters, the company has s ...

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Shoppers walk in front of a Kohl's store in Mount Kisco, New York. Kohl's shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street's expectations for a slight profit. Here's how Kohl's did in its fiscal first quarter compared with what Wall Street was expecting, according to a survey of analysts by LSEG: Loss per share: 24 cents vs. a profit of 4 cents expected Revenue: $3.18 billion vs. $3.34 billion expected Kohl's re ...

Sales Performance - Net sales decreased 5.3% year-over-year to $3.2 billion, with comparable sales down 4.4%[4][5] - Regular price sales increased 2.4%, but clearance sales impacted overall comparable sales by more than 600 basis points[3][4] Profitability and Margins - Gross margin increased by 48 basis points to 39.5% of net sales[4][5] - Operating income decreased to $43 million, down from $98 million in the prior year, representing 1.3% of total revenue[5] - Diluted loss per share was $0.24, compared to net income of $0.13 per diluted share in the prior year[4][5] Expenses and Costs - Selling, general & administrative (SG&A) expenses decreased 0.8% year-over-year to $1.2 billion, but increased as a percentage of total revenue to 36.3%[5] Inventory Management - Inventory declined 13% year-over-year to $3.1 billion[4][5] Financial Outlook and Strategy - The company updated its full-year 2024 financial outlook, expecting net sales to decrease between 2% and 4%, and comparable sales to decrease between 1% and 3%[5] - Capital expenditures for 2024 are expected to be approximately $500 million, including expansion of the Sephora partnership and other store-related investments[5] - The company plans to return capital to shareholders through dividends and strengthen its balance sheet by reducing long-term debt in 2024[4]

Kohl's Corporation (KSS) is likely to register top and bottom-line declines when it reports first-quarter fiscal 2024 earnings on May 30 before the opening bell. The Zacks Consensus Estimate for revenues is pegged at $3.54 billion, which suggests a drop of 0.9% from the prior-year quarter's reported figure. The consensus mark for quarterly earnings has decreased by 2 cents in the past 30 days to 4 cents per share. This indicates a slump of 69.2% from the year-ago quarter's reported figure. However, KSS has ...

Wall Street analysts expect Kohl's (KSS) to post quarterly earnings of $0.04 per share in its upcoming report, which indicates a year-over-year decline of 69.2%. Revenues are expected to be $3.54 billion, down 0.9% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 15.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings re ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Kohl's (KSS) reports results for the quarter ended April 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 30. On the other ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Kohl's (KSS) , which belongs to the Zacks Retail - Regional Department Stores industry.When looking at the last two reports, this department store operator has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 45.28%, on average, in the last two quarters.For the most recent quarter, Kohl's was expected to post earn ...

Employment and Workforce - The company employed an average of approximately 96,000 associates in 2023, including about 36,000 full-time and 60,000 part-time associates[21]. - The company offers a 100% match (up to 5% of pay) in its 401(k) Savings Plan after one year of employment for eligible associates[28]. - The company has implemented an education benefit that provides fully-funded tuition, books, and fees for associates pursuing high school completion and select degrees[29]. - The company is committed to its Diversity, Equity, and Inclusion strategy, which is embedded into its acquisition and retention practices for all associates[24]. Financial Performance - The company reported net sales of $16.586 billion for the fiscal year 2023, a decline of 3.3% compared to $17.161 billion in 2022[222]. - The total revenue for 2023 was $17.476 billion, down 3.4% from $18.098 billion in 2022[222]. - The operating income for 2023 was $717 million, significantly improved from $246 million in 2022[222]. - The net income for 2023 was $317 million, a recovery from a net loss of $19 million in 2022[222]. - Basic net income per share for 2023 was $2.88, recovering from a loss of $0.15 per share in 2022[261]. Assets and Liabilities - As of February 3, 2024, the company's merchandise inventories balance was $2.9 billion, down from $3.2 billion in the previous year, representing a decrease of approximately 9.7%[210]. - The company’s total assets decreased to $14.009 billion from $14.345 billion year-over-year, a decline of approximately 2.3%[221]. - The company’s total shareholders' equity increased to $3.893 billion from $3.763 billion, reflecting a growth of about 3.4%[221]. - Total property and equipment, net, as of February 3, 2024, was $7,720 million, down from $7,926 million in the previous year[236]. - Accrued liabilities decreased slightly to $1,201 million in 2024 from $1,220 million in 2023[243]. Debt and Credit Facilities - The company has a $1.5 billion revolving credit facility, with outstanding borrowings of $92 million as of February 3, 2024[198]. - The company is subject to interest rate risk due to $600 million of notes issued in April 2020, with $113 million remaining outstanding, and $500 million of notes issued in March 2021[197]. - The estimated fair value of unsecured senior long-term debt was $1.3 billion as of February 3, 2024, down from $1.6 billion as of January 28, 2023[266]. - Long-term unsecured senior debt outstanding was $1.638 billion as of February 3, 2024, compared to $1.637 billion as of January 28, 2023[265]. - Outstanding borrowings under the revolving credit facility were $92 million as of February 3, 2024, up from $85 million as of January 28, 2023[268]. Tax and Legal Matters - The company had gross unrecognized tax benefits of $200 million as of February 3, 2024, indicating potential tax liabilities[214]. - The provision for income taxes for fiscal year 2023 was $56 million, compared to a tax benefit of $39 million in 2022 and a provision of $281 million in 2021[283]. - The effective tax rate for fiscal year 2023 was 15.1%, significantly lower than 68.1% in 2022 and 23.1% in 2021[283]. - The company intends to vigorously defend against a putative class action lawsuit filed in September 2022, with claims related to financial reporting and governance[300]. - Management believes that ongoing legal proceedings and claims will not have a material adverse effect on the Consolidated Financial Statements[301]. Marketing and Sales - Women's category sales were $4,281 million, down 8.0% from $4,654 million in 2022[251]. - Net marketing costs for 2023 were $796 million, representing 4.6% of total revenue, a slight decrease from 4.9% in 2022[258]. Store Operations - The company operated 1,174 stores and a website, selling a range of moderately-priced private and national brand products[227]. - The company opened 254 full-size Sephora shops in 2023, bringing the total to 860 as of the end of the fiscal year[274]. Shareholder Returns - Kohl's Corporation declared a quarterly cash dividend of $0.50 per share[302]. - The dividend will be paid on April 3, 2024, to shareholders of record at the close of business on March 20, 2024[302].

Kohl's Corporation (NYSE:KSS) Q4 2023 Results Conference Call March 12, 2024 9:00 AM ET Company Participants Mark Rupe - Senior Vice President, Investor Relations and Treasury Tom Kingsbury - Chief Executive Office Jill Timm - Chief Financial Officer Conference Call Participants Bob Drbul - Guggenheim Mark Altschwager - Baird Oliver Chen - TD Cowen Matthew Boss - JPMorgan Dana Telsey - Telsey Advisory Group Charles Grom - Gordon Haskett Operator Good morning. My name is Audra and I will be your conference o ...