earnings
confidence high
sentiment negative
materiality 0.85
Kohl's reports Q1 net loss of $27M; comparable sales down 4.4%; lowers FY2024 guidance
KOHLS Corp
2024-Q1 EPS reported
-$0.24
revenue$3,382,000,000
- Net sales $3.2B, down 5.3% YoY; comparable sales -4.4%; diluted EPS -$0.24 vs +$0.13 last year.
- Gross margin improved 48 bps to 39.5%; inventory down 13% YoY to $3.1B.
- FY2024 guidance: net sales -2% to -4%; operating margin 3.0-3.5%; EPS $1.25-$1.85.
- Declared $0.50 dividend payable June 26; redeemed $113M of 9.5% notes due 2025.
- CEO acknowledges Q1 underperformance; expects strategic initiatives to contribute later.