TJX - Kohl's Swung To A Quarterly Profit As It Showed A Preview Of Its Turnaround Strategy To Combat Slumping Sales | Benzinga
With its fourth quarter report, Kohl’s (NYSE: KSS) came short on revenue estimates and issued a weak guidance. On a brighter note, Kohl’s swung from a net loss in last year’s comparable quarter to a net income and announced its plans to add Babies R Us baby gear to approximately 200 of its stores in the fall to combat off-price and discount retailers like TJX Companies (NYSE: TJX) and Target (NYSE: TGT).
Holiday Quarter Highlights
For the quarter ended on February 3rd, Kohl’s reported net sales contracted 1.1% YoY to $5.71 billion. Kohl’s was helped by an extra week in this year’s holiday quarter, like its retail peers. But Kohl’s turned from a net loss of 273 million, or $2.49 per share it reported for last year’s comparable quarter, to reporting a net income $186 million, or $1.67 per share, surpassing FactSet’s consensus of $1.28 a share. ...