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Kohl's Corp. Q3 Profit Tops Estimates, Comps. Up 2.5%; Raises Guidance


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(RTTNews.com) - Kohl's Corp. ( KSS ) reported third-quarter earnings per share, excluding loss on extinguishment of debt, of $0.98, an increase of 40% year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.96 for the quarter. Analysts' estimates typically exclude special items. Reported net income was $161 million compared to $117 million, previous year. Gross margin was 37.0%, up 25 bps from prior year.

For the third-quarter, net sales were $4.37 billion, compared to $4.31 billion, a year ago. Analysts expected revenue of $4.36 billion for the quarter. Comparable sales increased 2.5%, for the quarter. Total revenue improved 1.3% to $4.63 billion from $4.57 billion, prior year.

Michelle Gass, Kohl's chief executive officer. "We experienced strength across our entire apparel business, and our focus on speed to market and inventory management are driving relevancy with our customers, resulting in sales growth, margin expansion, and clean inventory levels. We are executing extremely well in our stores and our digital channels, and our efforts across the company have us well-positioned going into the fourth quarter."

The company said it is raising guidance and now expects fiscal 2018 earnings per share to be $5.16 to $5.36, compared to its prior guidance of $4.96 to $5.36. Excluding the loss on extinguishment of debt, fiscal 2018 earnings per share is expected to be $5.35 to $5.55, compared to prior guidance of $5.15 to $5.55.


Read the original article on RTTNews (http://www.rttnews.com/2956576/kohl-s-corp-q3-profit-tops-estimates-comps-up-2-5-raises-guidance.aspx)


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This article appears in: Fundamental Analysis , World Markets , Stocks , Earnings
Referenced Symbols: KSS



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