Kohl’s (KSS) Q4 Earnings

Kohl’s Corp. (NYSE:KSS) started from a single department store in Brookfield, Wisconsin back in 1962. The company’s store count was 76 when it went public in 1992. The continued expansion, upgradation of distribution network, and strong online presence helped the company to become a leading omnichannel retailer in the U.S. It currently operates 1,100 stores across 49 states.

The company recently announced better-than-expected financial results for the fourth quarter. It reported earnings of $2.20 per share for the three months ended January 30, up from $1.72 per share in the comparable period of 2019. Excluding items, the company reported an adjusted profit of $2.22 per share, easily beating analysts’ average estimate of $1.01 per share.

Revenue fell 10 percent on a year-over-year basis to $5.88 billion, just ahead of the $5.86 billion forecasted by analysts. Online sales in the quarter rose 22 percent, representing 42 percent of the total revenue.

Speaking on the results, CEO Michelle Gass said, “After an extraordinary year managing through the pandemic, we ended the year in a very solid financial position, and we enter 2021 with strong momentum. We are pleased with the progress we are making against our strategic initiatives and we are set up to deliver a multi-year improvement in sales and operating margin. Several newly announced initiatives will come to life for our customers in the year ahead, most importantly the launch of our Sephora partnership in August.”

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Kohl’s also issued its earnings outlook for fiscal 2021. KSS projected earnings in the range of $2.45 per share to $2.95 per share for the full year. Moreover, it expects its revenue to grow by a mid-teens percentage in 2021.

The company also plans to spend $200 million to $300 million on stock repurchase this year.

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