Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Kohl's Corporation    KSS

KOHL'S CORPORATION (KSS)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Macy's shares surge on holiday quarter outlook

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/09/2017 | 07:45pm CET
A customer exits after shopping at a Macy's store in the Brooklyn borough of New York

Macy's Inc (>> Macy's Inc) shares climbed more than 11 percent on Thursday after the department store chain forecast a jump in online sales in the crucial holiday quarter and said it would maintain its tight grip on inventory.

Macy's Inc (>> Macy's Inc) shares climbed more than 11 percent on Thursday after the department store chain forecast a jump in online sales in the crucial holiday quarter and said it would maintain its tight grip on inventory.

The retailer also reported an improvement in margins for the first time this year and a third-quarter profit that topped Wall Street estimates thanks to cost and inventory controls.

The surge in shares erased some of their heavy losses since Macy's previous earnings report, but analysts remained skeptical about the company's long-term prospects.

"Investors are pleased that Macy’s beat on earnings and are also encouraged by the positive sentiment from the CEO about holiday trading," GlobalData Retail's Neil Saunders said. "None of this makes up for the lack of a clear long-term strategy, but it is a nice sort-term gain in a difficult market."

Macy's has started the U.S. holiday shopping season in a good inventory position and should log double-digit online sales growth in the fourth quarter, Macy's Chief Executive Jeff Gennette said on a call to discuss the earnings.

Shares in Macy's were last up 11.7 percent on Thursday, even as the Dow Jones U.S. retailers index <.DJUSRT> fell by 0.2 percent.

The retailer has worked to rein in inventory to match declining foot traffic and boost weak margins as shoppers increasingly turn to off-price retailers and Amazon.com Inc (>> Amazon.com).

The company has also been closing stores and selling or renting out prime real estate properties, and in late 2015 launched its Backstage discount business to compete with off-price sellers.

But sales, which have declined for several straight quarters, fell short of analyst estimates in the third quarter after hurricanes Irma and Harvey kept customers out of some stores and warmer-than-expected weather crimped demand for winter clothing.

And despite the forecasted online growth, Gennette said Macy's now expects overall holiday-quarter sales at the lower end of its previous guidance. That would imply a decline of 2 percent, JPMorgan analysts wrote in a note.

Macy's shares have lost more than a fifth of their value since the company reported second-quarter results. Analysts have speculated recently that Macy's may cut its dividend in favor of paying down debt, further weighing on the stock price.

Chief Financial Officer Karen Hoguet noted repeatedly on the call that Macy's was generating more cash than it needed to cover its dividend and capital expenditures while also paying down debt.

Excluding items, Macy's earned 23 cents per share in the quarter ended Oct. 28, beating the average analyst estimate of 19 cents.

Sales at Macy's stores open more than 12 months, including sales in departments licensed to third parties, fell 3.6 percent, missing the average analyst estimate of a 2.6 percent decline.

Gross margins rose to 39.9 percent from 39.8 percent a year ago, while the cost of sales declined to $3.18 billion from $3.39 billion.

Kohl's Corp (>> Kohl's Corporation) meanwhile reported higher same-store sales for the first time in six quarters but a lower-than-expected third-quarter profit due to higher costs, store closures and hurricanes.

Kohl's CEO Kevin Mansell said the retailer was well-positioned for the holiday quarter, with lean inventories and strong sales expected from its online business, and in active apparel and footwear.

Kohl's shares reversed early losses and were last up 0.6 percent.

(Reporting by Richa Naidu in Chicago and Sruthi Ramakrishnan in Bengaluru; Editing by Meredith Mazzilli)

By Richa Naidu and Sruthi Ramakrishnan

Stocks treated in this article : Macy's Inc, Kohl's Corporation, Amazon.com
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on KOHL'S CORPORATION
05:48p Bargainista reveals her favorite Thanksgiving, Black Friday deals
02:55p KOHL : Ten Ways to Win Black Friday at Kohl’s
02:34p WAL MART STORES : Detroit Free Press Georgea Kovanis column
11/21 Black Friday no longer only option for shoppers searching for deals
11/17 KOHL : WalletHub report names best stores for Black Friday
11/15 What exactly is a BOPIS? A Black Friday lesson from Dick's Sporting Goods
11/14 Not enough coffee? Greenbrier Mall will have another way to wake up Black Fri..
11/14 WAL MART STORES : Detroit Free Press Georgea Kovanis column
11/14 WAL MART STORES : How to save money and your sanity this holiday shopping season
11/14 KOHL : Altec Lansing Gears Up for the Holidays With Everything-Proof Audio at Ko..
More news
News from SeekingAlpha
01:59p Do You Have Too Much Overstock?
11/20 Fallen Salem Media Is Brokers' Favorite For Consumer Cyclical 'Safer' Dividen..
11/19 15% Yielding Unsecured Debt
11/17 Retail sector poised for breakout
11/16 As The Holidays Approach, Retailers Face Sharply Diverging Trends
Financials ($)
Sales 2018 18 656 M
EBIT 2018 1 304 M
Net income 2018 638 M
Debt 2018 2 499 M
Yield 2018 4,98%
P/E ratio 2018 11,57
P/E ratio 2019 11,52
EV / Sales 2018 0,53x
EV / Sales 2019 0,53x
Capitalization 7 453 M
Chart KOHL'S CORPORATION
Duration : Period :
Kohl's Corporation Technical Analysis Chart | KSS | US5002551043 | 4-Traders
Technical analysis trends KOHL'S CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 43,1 $
Spread / Average Target -2,5%
EPS Revisions
Managers
NameTitle
Michelle D. Gass CEO-Elect & Chief Merchandising Officer
Kevin Mansell Chairman & President
Sona Chawla President-Elect & Chief Operating Officer
Bruce H. Besanko Chief Financial Officer
Frank V. Sica Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
KOHL'S CORPORATION-11.46%7 453
S.A.C.I. FALABELLA--.--%21 498
CANADIAN TIRE CORPORATION LIMITED15.71%8 779
LOJAS AMERICANAS SA-9.28%7 209
NORDSTROM, INC.-14.75%6 866
MACY'S INC-43.17%6 219