$KSS (+0,8%) | Kohlโs Corporation Q3 Earnings Highlights:
๐น EPS: $0.20 (Est. $0.30) ๐ด
๐น Revenue: $3.51B (Est. $3.85B) ๐ด; DOWN -8.8% YoY
๐น Comparable Sales: -9.3% (Est. -5.19%) ๐ด
CUTS FY24 Guidance:
๐น Net Sales: -7% to -8% (Prev. -4% to -6%) ๐ด
๐น Comparable Sales: -6% to -7% (Prev. -3% to -5%) ๐ด
๐น Operating Margin: 3.0% to 3.2%
๐น Diluted EPS: $1.20 to $1.50 (Est. $1.86) ๐ด
๐น Capital Expenditures: ~$500M
Key Q3 Metrics:
๐น Gross Margin: 39.1%; UP +20 bps YoY
๐น SG&A as % of Revenue: 34.8%; UP +125 bps YoY
๐น Operating Income: $98M; DOWN -37.6% YoY
Shareholder Returns:
๐น Dividend: $0.50/share; payable December 24, 2024
CEO Commentary:
๐ธ "Sales softness in apparel and footwear offset strong growth in categories like Sephora, home decor, and gifting. Aggressive actions are being taken to reverse declines."
Strategic Updates:
๐ธ CEO Tom Kingsbury to step down in January 2025, succeeded by retail veteran Ashley Buchanan.
๐ธ Expansion of Sephora partnership and addition of Babies โRโ Us shops in 200 locations.
Key Challenges:
๐น Eleventh consecutive quarter of declining same-store sales.
๐น Continued pressure from higher consumer costs and reduced foot traffic.