Dina Rudick | The Boston Globe | Getty Images
Kohl’s shares rose Tuesday morning as the retailer reported quarterly earnings and net sales that beat analysts’ expectations.
Its shares were up more than 2% in premarket trading following the release.
Here’s how Kohl’s did during its fiscal fourth quarter compared with what analysts were expecting, based on data pulled from Refinitiv:
- Earnings per share: $1.99, adjusted, vs. $1.88 expected
- Net sales: $6.53 billion vs. $6.52 billion expected
- Same-store sales: flat vs. a drop of 0.1% expected
Kohl’s had already reported disappointing holiday sales figures, prompting the retailer to lower its full-year profit outlook. It said same-store sales, which track the purchases online and at stores open for at least a year, declined 0.2% during November and December. Its women’s business in particular was a weak spot during the holiday season, CEO Michelle Gass had said.
The underwhelming results have led analysts to doubt Kohl’s tie-up with Amazon, where it accepts Amazon-related returns at all of its stores, can boost sales. But Gass said earlier this year that it “is working.”
So far, department store rivals J.C. Penney and Macy’s have reported drops in sales during the fourth quarter, along with same-store sales declines.
Kohl’s shares have fallen more than 43% over the past 12 months. The company has a market cap of about $6.1 billion.
Read the full earnings press release here.
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