Kohl's Expects 2024 Net Sales Growth of (2%)-(4%), Down From Prior (1%)-1%) Vs $16.6B Est, Comparable Sales Growth of (1%)-(3%), Down From Prior 0%-2%, EPS $1.25-$1.85, Down From Prior $2.10-$2.70 Vs $2.45 Est
Portfolio Pulse from Benzinga Newsdesk
Kohl's has updated its 2024 financial outlook, expecting net sales to decrease by 2%-4% and comparable sales to decrease by 1%-3%. The company also revised its EPS guidance to $1.25-$1.85, down from the previous $2.10-$2.70. Capital expenditures are projected at $500 million, and a quarterly dividend of $0.50 per share has been declared.
May 30, 2024 | 11:11 am
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Kohl's has revised its 2024 financial outlook, expecting net sales to decrease by 2%-4% and EPS to be in the range of $1.25-$1.85, down from the previous $2.10-$2.70. The company also announced a quarterly dividend of $0.50 per share.
The downward revision in net sales and EPS guidance indicates weaker financial performance, which is likely to negatively impact the stock price in the short term. The declaration of a quarterly dividend may provide some support, but overall sentiment is expected to be negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100