Kohl’s Corp. KSS, +8.25% offered a better-than-expected preliminary look at fourth-quarter earnings on Thursday. The department store retailer said it expects EPS in the range of $1.00 to $1.05, ahead of the FactSet consensus for 70 cents. Comparable sales are expected to fall 11%, deeper than the FactSet consensus for a 7.9% decline. Digital sales were up more than 20%, accounting for more than 40% of net sales. “Our fourth quarter performance exceeded our expectations across all key metrics with sales strengthening as we moved through the period,” said Chief Executive Michelle Gass in a statement. Kohl’s is scheduled to report fourth-quarter earnings on March 2. Kohl’s stock was upgraded on Wednesday at Cowen & Co. based on its upcoming beauty partnership with Sephora and its women’s apparel revamp. The Sephora partnership launches in the fall at 200 stores and online. Kohl’s stock slipped nearly 1% in Thursday premarket trading, but has gained 8% over the last year. The S&P 500 index SPX, +0.59% is up 16.2% for the last 12 months.
View Article Origin Here
