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- Kohl’s beat on adjusted profits but slightly missed on sales.
- The retailer gave better-than-expected earnings guidance for 2019.
- Watch Kohl’s trade live.
Kohl’s gained 4.72% early Tuesday after posting better-than-expected profits for the fourth quarter and issuing rosy full-year earnings guidance.
The retailer reported adjusted earnings of $2.24 a share — $0.06 better than what analysts surveyed by Bloomberg were expecting. It generated $6.54 billion in sales, just shy of the $6.57 billion that was expected.
Meanwhile, the company’s comparable sales grew 1% year-over-year, while analysts were only expecting a 0.2% increase.
"With a clear focus on driving traffic and operating with discipline, the company is delivering sales growth while also improving profitability," said CEO Michelle Gass in a press release.
"We are financially strong and our overall health in the business is positioning us well for continued success."
Looking ahead, the company sees its full-year adjusted earnings in the range of $5.80 to $6.15 a share, the lower end of which still tops the Wall Street consensus of $5.75.
Kohl’s was up 3% so far this year through Monday, trading near $66.50 a share.
MI
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Source: Business Insider – ejiang@businessinsider.com (Ethel Jiang)