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Nov. 12, 2015, 9:17 AM
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, 7:22 AM
- Kohl's (NYSE:KSS) declares $0.45/share quarterly dividend, in line with previous.
- Forward yield 4.17%
- Payable Dec. 23; for shareholders of record Dec. 9; ex-div Dec. 7.
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
Nov. 11, 2015, 8:28 AM
- The department store sector could see an impact after Macy's drops guidance sharply.
- CEO Terry Lundgren sent a shiver across the industry by saying Macy's will take markdowns to clear inventory ahead of the crucial holiday season. Macy's reported soft U.S. traffic and sales in Q3.
- Kohl's (NYSE:KSS), Dillard's (NYSE:DDS), and Nordstrom (NYSE:JWN) are on watch. Perhaps an outlier, J.C. Penney is higher in early action after tipping a strong 6% comp in Q3.
- Previously: Macy's lower after U.S. sales slump and nixing REIT (Nov. 11 2015)
- Previously: Retailers eye inventory levels with Black Friday 17 days away (Nov. 10 2015)
Nov. 11, 2015, 7:43 AM
- Kohl's (NYSE:KSS) announces a new deal with well-known designer Reed Krakoff.
- An exclusive line of handbags called REED will debut in the spring of 2016.
- The price range for the REED collection is $15 to $129, well-below the pricing of most Coach and Michael Kors products.
Nov. 10, 2015, 8:31 PM
- The headaches continue for a large part of the retail sector impacted by a slower pace of sales than anticipated this fall.
- Warmer weather than normal have held back outerwear and winter clothing demand, while mall traffic continues to be underwhelming.
- The high level of unsold inventory on shelves at retail chains is likely to lead to more promotions and discounts heading into the crucial Black Friday period, observes the WSJ. That trend could hurt manufacturers and sellers alike.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, PEJ, FDIS, RCD, PMR, UGE, SZK.
- Related stocks: FL, FINL, KORS, COH, DSW, DKS, SKX, JCP, M, SHLD, KSS, JWN, TJX, ROST, BONT, AEO, ANF, ARO, CAL, CROX, SMRT, BKE, CTRN, GPS, LB, RL, PVH.
Nov. 9, 2015, 10:15 AM
- Department store stocks are off to a rough start with earnings coming into focus this week. Macy's (M -5.5%), J.C. Penney (JCP -4.2%), Kohl's (KSS -4.9%), Dillard's (DDS -3.3%), and Nordstrom (JWN -3.9%) are all sharply lower.
- Retailers Target (TGT -2.7%), Costco (COST -1.5%), TJX Companies (TJX -2.9%), The Children's Place (PLCE -4.8%), L Brands (LB -4.4%), and Wal-Mart (WMT -0.9%) are also below broad market averages with earnings reports due to roll in this week and next.
- The S&P Retail ETF (NYSEARCA:XRT) is down a crisp 2.0%.
Oct. 28, 2015, 3:22 PM
- Kohl's (KSS -0.4%) unveiled a new strategy this week at a fashion conference. The new direction - called in understated fashion the "Greatness Agenda" - is aimed at growing top-line sales.
- New initiatives include a buy online and pick up in stores program and the creation of new distribution channels.
- Kohl's will also open five to ten small-format stores next year.
- The Greatness Agenda is a pretty similar to recent measures introduced by several of Kohl's peers.
Oct. 12, 2015, 2:01 PM
- Kohl's (KSS -1.7%) announces it will partner with Deliv to bring same-day delivery to nine new markets.
- The service will be available to Kohl's online and mobile shoppers in San Francisco, the broader Bay Area, Chicago, Boston, Brooklyn/Queens, Los Angeles, Miami, Northern New Jersey, and Philadelphia. Demand for same-day delivery is expected to take off during the holidays as shoppers look to avoid mall runs.
- Deliv is a VC-backed firm that is working with other well-known department store chains and specialty retailers.
Sep. 28, 2015, 2:20 PM
- Kohl's (KSS -3%) slides to a new 52-week low as sentiment on the mall retailer remains weak. Soft traffic continues to plague the chain.
- Macy's (M -4.1%) is also sitting at its lowest level in a year, as even talk about REIT options fails to keep share percolating.
- The new 52-week low set today by Dillard's (DDS -2.8%) extends a dismal streak in 2015. Shares are down 30% YTD.
- Stage Stores (NYSE:SSI) is down 5.2% on the day and is likely to close below $10 after starting the year off in the $20s.
Sep. 16, 2015, 10:07 AM
- Kohl's (KSS +0.7%) says it will hire more than 69K associates for the holiday season this year.
- The company indicates about 9.5K of the positions will be at distribution and e-commerce fulfillment centers.
- Last year, Kohl's set a target of 67K seasonal hires.
Aug. 28, 2015, 11:52 AM
- Department store chains increased their market share of beauty sales by a full percentage point to 12.7% over the last five years in a positive sign for the sector.
- The group made its gains in the high-end and niche parts of the beauty market, while conceding some parts of the mass market segment to Sally Beauty Holdings (NYSE:SBH), Ulta Salon (NASDAQ:ULTA), and Walgreens Boots Alliance (NASDAQ:WBA) on pricing.
- J.C. Penney (NYSE:JCP) has been a leader with its striking partnership with Sephora (OTCPK:LVMUY, OTCPK:LVMHF), while Macy's (NYSE:M) +$200M acquisition of Bluemercury sets it up to hit luxury shoppers as well. Kohl's (NYSE:KSS) and Dillard's (NYSE:DDS) also are rolling out new beauty and fragrance lines. Beauty is seen as one of the few categories the chains can drive traffic in effectively with marketing.
- Department stores commanded beauty market share of close to 14% before online sales and discounters started kicking into a higher gear.
Aug. 13, 2015, 9:19 AM
Aug. 13, 2015, 8:50 AM
- The furniture and home furnishing stores category RH, PIR, HVT, BBBY, ETH, HOFT, OTCPK:BEST, W, LZB, OTCPK:LEFUF, BSET, WSM, RH, KIRK outperformed in today's report on retail sales.
- Sales were up 0.8 Y/Y and 6.1% Y/Y in July for the housing-related category.
- Department stores (KSS, JCP, SHLD, JWN, M) showed sluggish traffic trends again, sales were down 0.8% M/M and slumped 2.7% Y/Y.
- Sales in the food services category were up a solid 9.0% Y/Y.
- U.S. Census Bureau Retail Sales report (.pdf)
- Previously: July U.S. Retail Sales: +0.6% (Aug. 13 2015)
Kohl's Corp operates department stores that sell moderately priced exclusive and national brand apparel, footwear, accessories, beauty and home products. Its website includes merchandise available in stores, and merchandise available only on-line.
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