Kohl's Q4 Highlights: Earnings Beat, Sales Dip, Expanding Margins & More
Portfolio Pulse from Shivani Kumaresan
Kohl's Corp (NYSE:KSS) reported Q4 FY23 results with a slight sales decline of 1.1% to $5.71 billion, beating analyst estimates. Comparable sales dropped by 4.3%, but gross margin expanded significantly. Operating income turned positive, and EPS of $1.67 exceeded expectations. Inventory and SG&A expenses decreased, and a quarterly dividend was announced. The company provided a cautious FY24 outlook with sales growth expected to be between -1% and 1%, and EPS forecasted in the range of $2.10 to $2.70. KSS shares dropped 1.10% in premarket trading.
March 12, 2024 | 12:37 pm
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Kohl's reported better-than-expected Q4 FY23 earnings with a slight sales decline, significant margin expansion, and a positive EPS beat. The company announced a quarterly dividend and provided a cautious FY24 outlook.
Despite Kohl's beating earnings expectations and announcing a dividend, the cautious FY24 outlook and the premarket share price drop indicate a short-term negative impact on the stock. The significant improvement in operating income and margin expansion are positive, but the market's reaction to the cautious outlook and premarket trading suggests a bearish sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100