Categories AlphaGraphs, Earnings, Retail
Earnings: Kohl’s (KSS) Q3 2022 profit and revenue beat estimates
Department store chain Kohl’s Corp. (NYSE: KSS) on Thursday reported a decline in third-quarter adjusted earnings and revenues. However, the results exceeded expectations.
Third-quarter earnings, adjusted for special items, dropped to $0.82 per share from $1.65 per share in the same period of last year. But the latest number came in above the market’s projection. Unadjusted net income was $97 million or $0.82 per share, compared to $243 million or $1.65 per share in the third quarter of 2021.
The weak bottom-line performance reflects a 7% year-over-year decrease in revenues to $4.28 billion. But it is above the market’s expectations. Third-quarter comparable sales dropped 6.9% and net sales decreased by 7.2%.
Check this space to read management/analysts’ comments on Kohl’s Q3 results
Meanwhile, the company’s board of directors has formed a search committee to oversee the search for a new CEO, while Tom Kingsbury has agreed to serve as Interim CEO during the transition period.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
TC BioPharm develops safer, less expensive products to target more cancers: CEO Bryan Kobel
TC BioPharm (NASDAQ: TCBP) is a clinical-stage cell therapy company focused on the development of treatments for infectious diseases, including advanced allogeneic chimeric antigen receptor (CAR) T-cell therapy products for
Cintas Corp. (CTAS) Q3 2023 earnings and revenue increase
Uniform rental company Cintas Corporation (NASDAQ: CTAS) on Wednesday announced financial results for the third quarter of 2023, reporting higher earnings and revenues. At $2.19 billion, third-quarter revenues were up
Infographic: Micron (MU) reports net loss for Q2; revenue down 53%
Micron Technology Inc. (NASDAQ: MU) slipped to a loss in the second quarter of 2023 from a profit last year, hurt by a sharp fall in revenues. The chipmaker reported