2023-05-24 07:04:46 ET
- Kohl's press release ( NYSE: KSS ): Q1 GAAP EPS of $0.13 beats by $0.54 .
- Revenue of $3.57B (-4.0% Y/Y) beats by $200M .
- Shares up 4% PM.
- “We are making progress against each of our key 2023 priorities, enhancing our customer experience, simplifying our value strategies, managing inventory and expenses with discipline, and strengthening our balance sheet. I would like to thank the entire Kohl’s team for driving against these priorities with a clear focus and strong determination. While there is still work to be done and the macroeconomic environment remains challenging, we are affirming our 2023 guidance and continue to have conviction in Kohl’s longer term opportunity,” Kingsbury stated.
- FY2023 Outlook : Net sales: A decrease of (2%) to (4%), includes the impact of the 53rd week which is worth approximately 1% year-over-year; Operating margin: Approximately 4.0%; Diluted earnings per share: In the range of $2.10 to $2.70, excluding any non-recurring charges vs. consensus of $2.32; Capital Expenditures: $600 million to $650 million, including expansion of its Sephora partnership and store refresh activity.
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Kohl's GAAP EPS of $0.13 beats by $0.54, revenue of $3.57B beats by $200M