Kohl’s Beats Q1 Sales Estimates With $3 Billion Revenue as Turnaround Takes Hold
Kohl’s Corp. reported first-quarter net sales of $2.998 billion, slightly above the $2.991 billion estimate, even as revenue fell 1.7% from a year earlier and comparable sales declined 1.1%. The department-store chain posted a net loss of $14 million, or 13 cents a share, while gross margin was 39.9% and operating income dropped to $46 million from $60 million a year earlier.
The results indicate Kohl’s turnaround under Chief Executive Officer Michael Bender is beginning to gain traction, with the company citing improving sales trends and its best comparable-sales performance in more than four years. Still, the figures show the recovery remains uneven, with both sales and operating profit below year-earlier levels.
From the sources (4 posts)
@alphasenseinc$KSS Earnings: - Net sales decreased 1.7% year-over-year, to $3 billion, with comparable sales down 1.1%. - Gross margin as a percentage of net sales was 39.9%, an increase of 4 basis points year-over-year. - Net loss was $14 million, or (
@firstsquawkKOHL'S Q1 PRETAX PROFIT USD -17 MILLION || Q1 NET INCOME USD -14 MILLION || Q1 NET SALES USD 2,998 MILLION VS ESTIMATE USD 2,991 MILLION || Q1 EBIT USD 46 MILLION || Q1 GROSS MARGIN 39.9% || Q1 EPS USD -0.13 || Q1 COMPARABLE SALES GROWTH -1
@businessKohl’s Corp. reported stronger-than-expected sales, as the department chain’s turnaround under Chief Executive Officer Michael Bender begins to take hold.
@cnbcKohl's stock jumps as slumping retailer says sales trends are improving