Kohl's Warns Of Cautious Middle-Class Consumer, But Highlights Strengths In 2 Segments
Portfolio Pulse from Aaron Bry
Kohl's reported better-than-expected EPS but missed revenue estimates by $120 million. The company noted cautious spending by middle-class consumers, with core apparel and footwear sales declining. However, the Sephora segment showed strong growth. JPMorgan downgraded Kohl's stock to Underweight with a $19 price target.
August 29, 2024 | 10:21 pm
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Kohl's reported an EPS beat but missed revenue estimates, highlighting cautious spending by middle-class consumers. The Sephora segment showed strong growth, but core apparel and footwear sales declined. JPMorgan downgraded the stock to Underweight with a $19 price target.
Kohl's EPS beat indicates some operational strength, but the revenue miss and cautious consumer spending, especially in core segments, are concerning. The downgrade by JPMorgan to Underweight with a $19 price target suggests a negative outlook, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100