Kohl’s reports light sales for the holiday quarter, issues upbeat guidance

Kohl’s reports light sales for the holiday quarter, issues upbeat guidance

In this article

KSS

The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California.
Justin Sullivan | Getty Images

Kohl’s on Tuesday reported fiscal fourth-quarter sales that came in below analysts’ estimates for the key holiday quarter, as ongoing supply chain obstacles roiled retailers and shrunk inventories.

Its earnings beat expectations, however, though shares were recently down roughly 1% in premarket trading.

The retailer notably issued an upbeat outlook for fiscal 2022, calling for net sales to rise 2% to 3%. Analysts had been looking for year-over-year growth of 2.2%, according to Refinitiv.

Here’s how Kohl’s did in its fourth quarter compared with what Wall Street was anticipating, according to a survey of analysts by Refinitiv:

Earnings per share: $2.20 adjusted vs. $2.12 expectedRevenue: $6.22 billion vs. $6.54 billion expected

As of Monday’s market close, Kohl’s shares are up about 12% year to date, bringing the company’s market cap to $7.7 billion.

This story is developing. Please check back for updates.

Find the full earnings press release from Kohl’s here.

Post a Comment