Kohl's Expects 2024 Net Sales Growth of (1%)-1% Vs $16.6B Est, Comparable Sales Growth of 0%-2%, EPS $2.10-$2.70 Vs $2.47 Est
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Kohl's projects a net sales growth of (-1%)-1% for 2024, with comparable sales expected to grow between 0%-2%. The EPS is forecasted to be between $2.10-$2.70, excluding non-recurring charges. This outlook accounts for the potential impact from credit card late fee regulatory changes in H2 2024. Kohl's plans to invest approximately $500 million in capital expenditures, including expanding its Sephora partnership. Additionally, a quarterly dividend of $0.50 per share has been declared, payable on April 3, 2024.
March 12, 2024 | 11:11 am
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Kohl's anticipates a net sales growth of (-1%)-1% for 2024, with EPS expected to be between $2.10-$2.70. The company plans significant investments, including expanding its Sephora partnership, and has declared a quarterly dividend of $0.50 per share.
Kohl's guidance for 2024 reflects a cautious but potentially stable outlook, with a slight growth in sales and a solid EPS projection. The investments in capital expenditures, particularly in expanding the Sephora partnership, indicate a strategic move to enhance store offerings and customer experience. However, the impact of credit card late fee regulatory changes remains a potential risk. The declaration of a quarterly dividend suggests confidence in financial stability.
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