Kohl's Sticks To FY23 Outlook Post Q2 Earnings Beat; Inventory Declines 14%
Portfolio Pulse from Shivani Kumaresan
Kohl's Corp reported a Q2 FY23 revenue decline of 4.8% YoY to $3.90 billion, beating the analyst consensus of $3.69 billion. Comparable sales decreased 5%. Gross margin contracted by 61 basis points to 39%. Operating income was $163 million, down from $266 million last year. EPS of $0.52 beat the consensus estimate of $0.22. Inventory decreased 14% YoY to $3.5 billion. Kohl's reaffirmed FY23 sales decline of 2% - 4% and expects FY23 EPS of $2.10 - $2.70.
August 23, 2023 | 1:55 pm
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NEGATIVE IMPACT
Kohl's reported a Q2 FY23 revenue decline but beat analyst estimates. The company reaffirmed its FY23 sales decline forecast.
Despite beating analyst estimates, Kohl's reported a decline in Q2 FY23 revenue and reaffirmed its FY23 sales decline forecast. This could negatively impact investor sentiment and put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100