Kohl's (KSS) Reports Mixed Q3 Results Heading Towards Holiday Season; Guides Q4
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Price: $51.79 -1.24%
Revenue Growth %: 0.0%
Financial Fact:
Gross margin: 1.53B
Today's EPS Names:
CEDU, CHC, CIDM, More
Revenue Growth %: 0.0%
Financial Fact:
Gross margin: 1.53B
Today's EPS Names:
CEDU, CHC, CIDM, More
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Kohl's Corporation (NYSE: KSS) posted mixed third-quarter results on Wednesday as the company guided for the fourth quarter in line with the Street's views.
The discount retailer reported third-quarter earnings of 63 cents per share, a penny better than the analyst estimate of 62 cents per share.
Revenue for Kohl's rose 4.1 percent to $4.2 billion in the three month period ended October 30, slightly missing the market consensus of $4.29 billion.
Same store sales or sales at locations open at least one year rose 1.8 percent.
"We continue to gain market share as reflected in our performance in both comparable and total sales growth," Kevin Mansell, Kohl’s chairman, president and chief executive officer, said. "This sales performance, along with strong inventory management, allowed us to continue to increase our gross margin rate. We are pleased with the expense management discipline across the company that allowed us to grow our expenses less than we originally planned.“
Looking forward, the company sees Q4 sales up 4.5 percent to 6.5 percent with earnings of $1.51 to $1.59 per share, compared tot he Street's view of $1.57 per share.
Kohl's also sees same store sales up 2 percent to 4 percent.
Shares of Kohl's are down 46 cents to $51.80 in aftermarket movement on Wednesday.
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The discount retailer reported third-quarter earnings of 63 cents per share, a penny better than the analyst estimate of 62 cents per share.
Revenue for Kohl's rose 4.1 percent to $4.2 billion in the three month period ended October 30, slightly missing the market consensus of $4.29 billion.
Same store sales or sales at locations open at least one year rose 1.8 percent.
"We continue to gain market share as reflected in our performance in both comparable and total sales growth," Kevin Mansell, Kohl’s chairman, president and chief executive officer, said. "This sales performance, along with strong inventory management, allowed us to continue to increase our gross margin rate. We are pleased with the expense management discipline across the company that allowed us to grow our expenses less than we originally planned.“
Looking forward, the company sees Q4 sales up 4.5 percent to 6.5 percent with earnings of $1.51 to $1.59 per share, compared tot he Street's view of $1.57 per share.
Kohl's also sees same store sales up 2 percent to 4 percent.
Shares of Kohl's are down 46 cents to $51.80 in aftermarket movement on Wednesday.
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