Kohl's (KSS) is expected to report Q1 earnings before the open on Thursday, May 10, with a conference call scheduled for 8:30 am ET.
Analysts are looking for a profit of 61c on revenue of $4.25B. The consensus range is 60c-62c for EPS, and revenue of $4.22B-$4.31B, according to First Call. During the quarter, Kohl's reported March same-store sales up 3.6% and April SSS down 3.5%. The company said it was "comfortable" with Q1 EPS guidance of 60c on May 3. Previously, the retailer also forecast Q1 sales up 3%, and FY12 EPS $4.75 on sales up 4.5%; the First Call consensus for FY12 EPS Is $4.74 and revenue is $19.6B. Kohl's guided Q1 SSS up 1% and FY12 SSS up 2%.
During the quarter, shares were upgraded to Buy from Hold at Jefferies on improved inventory flow and efforts by management to address price and marketing, and to Neutral from Underweight at JP Morgan on improved sentiment. Barron's said the company's earnings are expected to rise by double digits in the next year, boosted by the retailer's aggressive share-repurchase program. T. Rowe Price's Frank Alonso sees Kohl's beating same-store sales guidance beginning in the fall. Analysts and investors will listen for comments on the current promotional environment and how inventory is viewed going into the summer season.