Kohl's quarterly results beat Wall Street expectations
Kohl's results surpassed Wall Street expectations
Former Nuveen chief equity strategist and senior portfolio manager Bob Doll discusses how worried investors should be about the markets in the coming months.
MENOMONEE FALLS, Wis. – Kohl's Corp. on Thursday reported fiscal first-quarter net income of $14 million, after reporting a loss in the same period a year earlier.
STOCK FUTURES POINT TO FOURTH STRAIGHT DAY OF LOSSES
On a per-share basis, the Menomonee Falls, Wisconsin-based company said it had a profit of 9 cents. Earnings, adjusted to extinguish debt, were $1.05 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KSS | KOHL'S CORP. | 20.48 | +0.74 | +3.78% |
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
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The department store operator posted revenue of $3.89 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.57 billion.
Kohl's expects full-year earnings in the range of $3.80 to $4.20 per share.
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Kohl's shares have risen 48% since the beginning of the year, while the S&P's 500 index has climbed almost 10%. The stock has more than tripled in the last 12 months.