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Nov. 13, 2015, 8:31 AM
- J.C. Penney (NYSE:JCP) reported a lighter than expected Q3 loss, better than expected sales growth and raised profit estimates for the year, but shares nevertheless are -3.3% premarket as other mall-based retailers have warned about weak consumer spending.
- JCP says its Q3 comparable sales at locations open for at least a year rose 6.4% Y/Y, beating expectations, but does not raise its forecast for full-year sales, reaffirming 2015 guidance for comp store sales to increase 4%-5%.
- JCP says all merchandise divisions had positive comp sales gains over last year, with men's, home, footwear, handbags and Sephora among the top performing divisions.
- Q3 gross margin rose to 37.3% from 36.6% a year earlier, helped by improvements in clearance and promotions.
- JCP says it now expects adjusted EBITDA of $645M, up from its August estimate of $620M.
- In premarket trading among peers, JWN -20.2%, TJX -4%, M -1.3%, TGT -1.5%, KSS -2%.
Nov. 12, 2015, 5:17 PM
- Nordstrom (NYSE:JWN) -19.8% AH after missing Q3 earnings estimates by a wide margin and cutting its annual forecast.
- JWN says Q3 results were below its expectations, reflecting softer sales trends that generally were consistent across channels and merchandise categories.
- JWN lowers its guidance for FY 2016 EPS to $3.40-$3.50 from its prior outlook for $3.70-$3.80 and below the $3.77 analyst consensus estimate, and lowers its revenue view to a 7.5%-8% gain and $14.1B-$14.16B vs. $14.34B consensus.
- For Q4, JWN sees EPS of $3.30-$3.40 with sales rising 7.5%-8%, down from its previous guidance for EPS of $3.85-$3.95 on a 8.5%-9.5% sales increase.
- Q3 revenue, which includes revenue from its credit cards, gained 6% Y/Y to $3.33B, while sales at established stores rose 0.9%; inventory rose 8% Y/Y.
- JWN follows Macy’s in reporting disappointing results, underscoring a broader slowdown for department stores as consumers spend less of their money on apparel and accessories; after hours, M -1.6%, TGT -1.9%, JCP -1.4%, TJX -4%, BURL -5.3%, KSS -1.3%.
Nov. 12, 2015, 7:32 AM
- Kohl's (NYSE:KSS) could breathe some fresh air into the department store sector after posting a stronger-than-expected Q3 report.
- The company reported a +1% comp and a 10 bp dip in gross margin rate to 37.1%.
- Net income as a percentage of net sales +10 bps to 3.3%.
- Execs cited sales strength at the end of October helping to offset a sluggish September.
- Previously: Kohl's beats by $0.06, beats on revenue (Nov. 12)
- KSS +10% premarket.
Nov. 12, 2015, 7:15 AM
- Kohl's (NYSE:KSS): Q3 EPS of $0.75 beats by $0.06.
- Revenue of $4.43B (+1.4% Y/Y) beats by $20M.
Nov. 11, 2015, 5:30 PM
Aug. 13, 2015, 7:41 AM
- Kohl's (NYSE:KSS) reports comparable-store sales increased 0.1% in Q2.
- The company's gross margin rate fell 10 bps to 38.9%.
- Net income as a percentage of sales fell 250 bps to 3.0% on higher SG&A expenses.
- Store count +4 Y/Y t o 1,164.
- Previously: Kohl's misses by $0.09, misses on revenue
- KSS -7.3% premarket to $57.00.
Aug. 13, 2015, 7:02 AM
- Kohl's (NYSE:KSS): Q2 EPS of $1.07 misses by $0.09.
- Revenue of $4.27B (+0.7% Y/Y) misses by $40M.
Aug. 12, 2015, 5:30 PM
May 14, 2015, 7:28 AM
- Kohl's (NYSE:KSS) trades lower after sales come in lower than expectations.
- Comparable-store sales were up 1.4% during the quarter.
- Gross margin rate +10 bps to 36.9%.
- Operating income rate -10 bps to 6.8%.
- SG&A expense rate flat at 24.6%.
- Inventory +4.6% to $4.165B.
- Store count +4 Y/Y to 1,164.
- Previously: Kohl's beats by $0.08, misses on revenue
- KSS -5.3% premarket.
May 14, 2015, 7:17 AM
- Kohl's (NYSE:KSS): Q1 EPS of $0.63 beats by $0.08.
- Revenue of $4.12B (+1.2% Y/Y) misses by $70M.
May 13, 2015, 5:30 PM
Kohl's Corp. owns and operates family-oriented department stores. It offers exclusive brand apparel, shoes, accessories and home & beauty products through its department stores. The company's stores offer apparel, footwear and accessories for women, men and children; soft home products, such as... More
Industry: Department Stores
Country: United States
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