Kohl's Corp. (NYSE:KSS) is scheduled to report its Q2 2012 results on Thursday, August 9, 2012, before the market opens. The Street expects EPS and revenue of $0.96 and $4.23B, respectively.
In this article, I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from Kohl's, and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
Kohl's has met or beaten analysts' estimates in the last four quarters. In the last quarter, it reported $0.63 EPS, beating analysts' estimates of $0.61.
The consensus EPS estimate is $0.96 based on 20 analysts' estimates, down from $1.08 a year ago. Revenue estimates are $4.23B, just below $4.25B from a year ago. Analysts' median target price for the stock is $56.00.
Average recommendation: Overweight
Analyst Upgrades and Downgrades
- On April 10, 2012, UBS initiated a Neutral rating for the company.
- On May 31, 2012, Kohl's Corporation announced that it now expects second quarter 2012 comparable store sales to be modestly negative.
- On May 10, 2012, Kohl's Corporation announced that for the second quarter of 2012, it expects earnings of $0.96 to $1.02 per diluted share. The guidance is based on total sales growth of 2% to 3% and comparable store sales growth of flat to 1%, and includes expected second quarter share repurchases of $250 million.
- On March 8, 2012, Kohl's Corporation announced that it has opened eight new stores, creating approximately 1,000 new jobs nationwide. In total, the company operates 1,134 stores in 49 states.
- On February 23, 2012, Kohl's Corporation issued its initial guidance for fiscal 2012. Based on assumptions of a total sales increase of 4.5% and a comparable store sales increase of 2%, the company expected earnings per diluted share (NYSEARCA:EPS) of $4.75. For the first fiscal quarter, the company expected earnings per diluted share of $0.60 based on assumptions of a total sales increase of 3% and a comparable store sales increase of 1%. According to I/B/E/S estimates, analysts were expecting the company to report EPS of $4.95 for fiscal 2012; EPS of $0.77 for the first quarter of 2012.
J. C. Penney (NYSE:JCP), Nordstrom (NYSE:JWN), Macy's (NYSE:M), Sears Holdings (NASDAQ:SHLD), and The TJX Companies (NYSE:TJX) are peers for comparison for Kohl's, and the table below provides the key metrics for these companies and the industry:
The chart below compares the stock price changes as a percentage for the selected companies for the last one year period:
Competitors' Latest Developments
- On August 2, 2012, Nordstrom, Inc. announced that for the second quarter of 2012, it expects same-store sales to increase in the low-single-digit range.
- On July 23, 2012, Reuters reported that J.C. Penney Company Inc raised $248 million by selling part of its stake in a Simon Property Group Inc unit.
- On July 10, 2012, Reuters reported that J. C. Penney Company Inc. announced another 350 job cuts at its Plano, Texas headquarters, completing a reorganization of its home office designed to help it bring costs in line with those of rivals.
- On July 5, 2012, Macy's Inc. reaffirmed fiscal 2012 guidance and expects same store sales to rise by approximately 3.7%, with earnings per diluted share in the range of $3.25 to $3.30. According to I/B/E/S Estimates, analysts were expecting the company to report EPS of $3.37 for fiscal 2012.
- On July 5, 2012, TJX Companies Inc. raised second quarter of 2013 and fiscal 2013 guidance. The company expects second quarter 2013 earnings per share in the range of $0.52-$0.53 and EPS of $2.31-$2.39 for fiscal 2013.
- On June 6, 2012, Nordstrom, Inc. announced that for fiscal 2012, it expects a 50% to 60% increase in sales. The company reported revenue of $9.31 billion for fiscal 2011.
- On May 31, 2012, TJX Companies Inc. announced that with above-plan sales in May, it now expect second quarter 2013 earnings per share to be at the high end of previously estimated range of $0.47-$0.50.
- On May 18, 2012, Macy's Inc. announced that it declared a regular quarterly dividend of $0.20 per share on Macy's common stock, payable July 2, 2012, to shareholders of record at the close of business on June 15, 2012.
- On May 17, 2012, Sears Holdings Corp. announced that its Board of Directors has approved plans to pursue a partial spin-off of interest in Sears Canada Inc. Holdings, which currently owns approximately 95% of the issued and outstanding common shares of Sears Canada, expects to distribute common shares of Sears Canada held by Holdings on a pro rata basis to holders of Holdings' common stock such that following the spin-off, Holdings will retain approximately 51% of the issued and outstanding common shares of Sears Canada.
- On May 15, 2012, J. C. Penney Company Inc. reaffirmed fiscal 2012 earnings guidance and expects earnings per share of $2.16 per share, which excludes non-cash qualified pension expenses, restructuring charges and markdown reserves as the company transitions its merchandise assortment.
- On May 15, 2012, TJX Companies Inc. announced that for the second quarter of 2013, it expects diluted earnings per share to be in the range of $0.47 to $0.50. For fiscal 2013, it is raising its guidance for diluted earnings per share to be in the range of $2.27 to $2.37. According to I/B/E/S Estimates, analysts are expecting the company to report EPS of $0.51 for the second quarter of 2013.
- On May 10, 2012, Nordstrom, Inc. announced that for fiscal 2012, it expects earnings per diluted share in the range of $3.30 to $3.45 and same-store sales to increase 4% to 6%.
- On May 9, 2012, Macy's Inc. announced that it continues to expect same-store sales to grow by approximately 3.5% for the remainder of fiscal 2012. When added to the first quarter's reported results, same-store sales growth for fiscal 2012 as a whole now is expected to be approximately 3.7% -- slightly higher than previous guidance for a same-stores sales increase of approximately 3.5% in fiscal 2012.
Kohl's has a market capitalization of $12.47B, and is currently trading at $52.02 with a 52 week range of $42.14 - $56.66. The stock's year-to-date performance has been 6.88%. It is currently trading above 20, 50 and 200 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.