Kohl's gained 4.72% early Tuesday after posting better-than-expected fourth-quarter profits and giving rosy full-year earnings guidance.
A woman shops for jewellery at a Kohl's department store which opened at 5am a day after Christmas on December 26, 2013 in Alhambra, California.The retailer gave better-than-expected earnings guidance for 2019.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"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.
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