Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Kohl's Corporation (NYSE: KSS) posted upbeat earnings for its fourth quarter on Tuesday.
Kohl’s reported a fourth-quarter FY23 sales decline of 1.1% year-on-year to $5.71 billion, beating the analyst consensus estimate of $5.70 billion.
Selling, general and administrative expenses decreased 4% Y/Y to $1.6 billion. EPS of $1.67 beat the analyst consensus estimate of $1.28.
“Our store business had its best comparable sales performance since 2010, Sephora at Kohl’s continued to drive meaningful beauty sales growth, and we managed inventory down 10% at year end,” said CEO Tom Kingsbury.
For FY24, Kohl’s expects sales growth of (1)% – 1%. It expects FY24 EPS, excluding any non-recurring charges, of $2.10 – $2.70 versus the Street view of $2.61.
Kohl’s expects an FY24 operating margin of 3.6% – 4.1% and capital expenditures of about $500 million, including expansion of its Sephora partnership and other store-related investments.
Kohl’s shares fell 6.7% to close at $34.29 on Tuesday.
These analysts made changes to their price targets on Kohl’s following merger news
- Telsey Advisory Group raised the price target on Kohl’s from $25 to $28. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating.
- JP Morgan increased the price target on Kohl’s from $20 to $21. JP Morgan analyst Matthew Boss maintained a Neutral rating.
- TD Cowen boosted the price target on Kohl’s from $28 to $31. TD Cowen analyst Oliver Chen maintained an Outperform rating.
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Latest Ratings for KSS
| Mar 2022 | Telsey Advisory Group | Maintains | Market Perform | |
| Mar 2022 | Credit Suisse | Maintains | Neutral | |
| Feb 2022 | Gordon Haskett | Downgrades | Buy | Accumulate |
View the Latest Analyst Ratings
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