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Kohl’s same-store sales deceleration overshadows a positive story

Kohl’s shares tumble more than 6% as same-store sales growth slows and Macy’s drags down the sector

Kohl’s Corp.’s 1.2% same-store sales growth over the holiday period fell short of the high expectations set by the fourth quarter last year, but was enough to overshadow all of the positives that Cowen thinks should be highlighted.

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https://www.marketwatch.com/story/kohls-...2019-01-10

Kohl's Stock Surges as Fourth Quarter Results Crush Expectations

CEO Michelle Gass said that the strong holiday season was a major driver of the earnings beat.

The bump in share price for the Wisconsin-based retailer comes after reporting that earnings per share for the three months ended February 2 came in at $2.24, $0.06 ahead of the Street consensus forecast, and revenue bested the analyst forecast by about $140 million.

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Adding to that, the company reported that it will repurchase between $400 million and $500 million in company stock, adding to shareholder protection provided by the nearly a 10% dividend raise approved by the company's Board on February 27.

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https://realmoney.thestreet.com/investin...yptr=yahoo

Kohl's (KSS) Stock Down on Q1 Earnings Miss & Slashed View

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Q1 in Detail

Kohl’s adjusted earnings of 61 cents per share missed the Zacks Consensus Estimate of 67 cents and declined 4.7% on a year-over-year basis. This can be accountable to soft revenues and increased SG&A expenses.

Total revenues came in at $4,087 million, which fell 2.9% from the prior-year quarter. Moreover, the figure came below the Zacks Consensus Estimate of $4,203 million. Net sales also decreased 3.3% to $3,821 million, while other revenues grew 4.3% to $266 million in the quarter.

Further, comps declined 3.4% against growth of 3.6% recorded in the year-ago quarter. This crushed the company’s positive comps record of six straight quarters.

Moving on, gross margin fell 6 basis points (bps) to 36.8% in the reported quarter. SG&A expenses as  percentage of sales expanded 130 bps to 31.2%. Further, operating income came in at $118 million, down from the prior-year quarter’s $210 million.

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