Kohl’s Corporation (NYSE: KSS) reported a 24% drop in earnings for the third quarter of 2019 due to lower revenue as well as higher costs and expenses. The bottom line missed analysts’ expectations while the top line missed consensus estimates. Further, the company lowered its earnings guidance for the full year 2019.
Net income dropped by 24% to $123 million or $0.78 per share. Adjusted earnings decreased by 24% to $0.74 per share. Revenue declined by 0.1% to $4.63 billion despite a 0.4% rise in comparable sales.
Comparable sales turned positive this quarter, which started off positive in August with another successful back-to-school season and ended strong in October. The company entered the holiday period with momentum and is strategically increasing its investments to take advantage of the unique opportunity to fuel growth and customer acquisition.
Looking ahead into the full year 2019, the company lowered its earnings guidance to the range of $4.75 to $4.95 per share from the previous range of $5.15 to $5.45 per share. The revised estimates exclude $0.22 per share related to the extinguishment of debt and impairments, store closing and other costs recognized in the first nine months of 2019.
On November 13, the company’s board declared a quarterly cash dividend on its common stock of $0.67 per share. The dividend is payable on December 24, 2019, to shareholders of record at the close of business on December 11, 2019.
As of November 2, 2019, Kohl’s has a long-term debt of $1.86 billion while it had only $490 million of cash and cash equivalents. The total current assets decreased by 9% to $5.78 billion while total current liabilities rose by 2% to $4.08 billion. The total debt-to-equity ratio is at 1.11 and this means the company is aggressive in financing its growth with debt.
Most Popular
Intuit (INTU) set to report Q1 FY26 results. Here’s what to expect
Intuit Inc. (NASDAQ: INTU) is preparing to report results for the first three months of fiscal 2026, amid expectations for a double-digit increase in revenues and adjusted earnings. While the
Estee Lauder’s (EL) Beauty Reimagined strategy is paying off, a few points to note
Shares of The Estée Lauder Companies Inc. (NYSE: EL) stayed green on Friday. The stock has gained 20% year-to-date. After going through a challenging phase, the company witnessed a rebound
Omnichannel push, margin dynamics in focus as Walmart gears up for Q3 earnings
Walmart Inc. (NYSE: WMT) entered the second half of FY26 navigating a challenging retail landscape marked by tariff-related cost pressure and cautious consumer behavior. At the same time, the company
