Kohl’s Corp beats Wall Street estimates in the fiscal fourth quarter
- Kohl’s Corp beats Wall Street estimates in the fiscal fourth quarter.
- The retailer expects up to £2.11 of adjusted per-share earnings.
- Kohl's Corporation lost close to 20% in the stock market last year.
Kohl’s Corp. (NYSE: KSS) published its earnings report for the fiscal fourth quarter on Tuesday that beat Wall Street estimates, despite the ongoing Coronavirus pandemic that has so far infected more than 29 million people in the United States and caused over half a million deaths.
Kohl’s shares opened at a per-share price of £40.46 on Tuesday and are currently exchanging hands at a higher £41.37 per share. The stock had started the year 2021 at a per-share price of £27.80. The price action should come in handy if you’re interested in investing in the stock market.
Kohl’s Q4 financial results versus analysts’ estimates
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Kohl’s said that its net income in the fourth quarter came in at £245.89 million, that translates to £1.58 per share. In the comparable quarter of last year, its net income was capped at a lower £189.97 million, or £1.23 per share.
On an adjusted basis, the department store retail chain earned £1.59 per share in Q4. Kohl’s valued its revenue in the recent quarter at £4.40 billion – a decline from a higher £4.90 billion last year. In separate news from the U.S., Citigroup upgraded Beyond Meat from ‘neutral’ to ‘buy’ on Tuesday.
According to FactSet, experts had forecast the company to record £4.22 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at a lower 72 pence. In the prior quarter (Q3), Kohl’s had recorded a 13.3% decline in net sales.
Kohl’s guidance for fiscal 2021
Kohl’s now forecasts its net sales to see a close to 15% growth in fiscal 2021. It expects its per-share earnings in the current year to fall in the range of £1.76 to £2.11. Analysts, on the other hand, are calling for £1.90 of earnings per share for Kohl’s in 2021.
CEO Michelle Gass commented on the financial results on Tuesday and said:
“We are pleased with the progress we are making against our strategic initiatives, and we are set up to deliver a multi-year improvement in sales and operating margin. Several newly announced initiatives will come to life for our customers in the year ahead, most importantly the launch of our Sephora partnership in August.”
Kohl’s performed fairly downbeat in the stock market last year with an annual decline of close to 20%. At the time of writing, it has a market cap of £6.55 billion.