Kohl's (KSS) Misses Q1 EPS by $1.45

Kohl's (NYSE: KSS) reported Q1 EPS of ($3.20), $1.45 worse than the analyst estimate of ($1.75). Revenue for the quarter came in at $2.43 billion versus the consensus estimate of $2.16 billion.

• Not reporting comparable sales due to store closures

Actions Taken In Response to COVID-19

As part of the COVID-19 response, the Company has taken the following actions to preserve financial liquidity and financial flexibility:

• Managed inventory receipts meaningfully lower,
• Significantly reduced expenses across the business inclusive of marketing, technology, operations and payroll,
• Decreased planned capital expenditures by approximately $500 million,
• Suspended share repurchase program,
• Suspended regular quarterly cash dividend beginning in the second quarter of 2020,
• Replaced and upsized revolver to $1.5 billion secured facility, and
• Issued $600 million notes due 2025.

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

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