Fri, Nov. 13, 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%.
Thu, Nov. 12, 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%.
Thu, Nov. 12, 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.
Thu, Nov. 12, 7:15 AM
Wed, Nov. 11, 5:30 PM
Thu, Aug. 13, 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.
Thu, Aug. 13, 7:02 AM
Wed, Aug. 12, 5:30 PM
Thu, May 14, 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.
Thu, May 14, 7:17 AM
Wed, May 13, 5:30 PM
Thu, Feb. 26, 8:14 AM
- Kohl's (NYSE:KSS) reports comparable-store sales rose 3.7% in Q4.
- Gross margin rate fell 14 bps to 33.88%.
- Operating income rate -33 bps to 10.32%.
- Merchandise inventory declined 1.55% to $3.814B.
- Store count +4 Y/Y to 1,162.
- FY2015 Guidance: Total sales: +1.8% to +2.8%; Comparable-store sales: +1.5% to +2.5%; Gross margin rate: +0 to +20 bps; SG&A expense: +1.5% to +2.5%; D&A: $940M; Interest expense: $335M; Tax rate: 37%; Diluted EPS: $4.40 to $4.60; Capex: $800M.
- KSS +2.26% premarket.
Thu, Feb. 26, 7:21 AM
Wed, Feb. 25, 5:30 PM
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Nov. 13, 2014, 7:24 AM
Nov. 13, 2014, 7:05 AM
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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