Kohl's Narrows Q1 Loss, Beats EPS Estimates as Turnaround Progresses
KSS sits 86% above its 52-week low of $7.61.
Summary
Kohl's reported a narrower Q1 loss of $14 million, or $0.13 per share, beating analyst expectations of a $0.16 loss. Comparable sales declined 1.1%, which was better than the anticipated 1.7% decline. This follows the 8-K filed earlier today which indicated the company exceeded Q1 analyst expectations. The better-than-expected results and narrowed loss suggest the company's turnaround efforts are gaining traction, leading to an 8.7% rise in premarket trading. The company reaffirmed its full-year adjusted earnings outlook.
At the time of this announcement, KSS was trading at $14.19 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $7.61 to $25.22. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.