Kohl's Shares Jump 20% After Strong Sales Report
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- Kohl's stock surged 20% on Thursday after the retailer reported its strongest comparable‑sales growth in four years.
- Michael Bender said the quarter marked Kohl's "knocking on the door of growth" and highlighted disciplined expense management, cleaner inventory, and a strong balance sheet.
- Kohl's fiscal first‑quarter net sales fell 1.7% to $3.0 billion, while comparable sales slipped 1.1%, a slowdown from a 2.8% decline in the prior quarter.
- Kohl's posted a loss of 13 cents per share, beating analyst expectations of a 19‑cent loss, and revenue of $3 billion slightly topped the $2.99 billion forecast.
- Kohl's reaffirmed its full‑year outlook of net sales and comparable sales flat to down 2% and adjusted EPS between $1.00 and $1.60.
- Kohl's is pursuing tariff refunds worth about $190 million, though the money has not yet been received.
- Kohl's noted "meaningful improvement" in its Kohl’s card customer segment and proprietary brand, while acknowledging ongoing pressures from high energy prices and inflation.
Why it matters: Investors gain from the unexpected earnings beat and stock rally, while Kohl's must still confront declining sales and macro pressures; the tariff‑refund eligibility could bolster cash flow, but the modest revenue dip signals ongoing challenges for the company's turnaround in the near term.
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