Kohl's (KSS) Tops Q2 EPS by 58c, Revenues Miss

Kohl's (NYSE: KSS) reported Q2 EPS of ($0.25), $0.58 better than the analyst estimate of ($0.83). Revenue for the quarter came in at $3.41 billion versus the consensus estimate of $3.09 billion.

• Strengthened financial position during the quarter, ending with $2.4 billion in cash
• Disciplined management of expenses and inventory resulted in positive operating cash flow
• Second quarter net sales decrease (22.9%)
• Second quarter diluted earnings per share of $0.30; adjusted loss per share(2) of ($0.25)

"Our organization continues to navigate through a period of extraordinary change and uncertainty presented by the COVID-19 crisis. During the second quarter we made significant progress in rebuilding our business. We reopened all of our stores with new safety and operating procedures, accelerated digital growth, and showed great discipline in managing inventory and expenses meaningfully lower. In doing so, we generated positive operating cash flow and further enhanced our financial position,” said Michelle Gass, Kohl’s chief executive officer.

“As we look ahead, we are planning for the crisis to continue to impact our business in the near-term,” said Gass. “We are well-positioned to capitalize on evolving customer behaviors and the retail industry disruption, which we believe will drive long-term growth and increased market share.”

For earnings history and earnings-related data on Kohl's (KSS) click here.

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