When Kohl’s Corp. (NYSE: KSS) reported its first-quarter financial results before the markets opened on Tuesday, the retailer said they had $0.61 in earnings per share (EPS) and $4.09 billion in revenue. Consensus estimates had called for $0.67 in EPS and $3.95 billion in revenue, and the same period of last year reportedly had EPS of $0.64 on $3.95 billion in revenue.
During the most recent quarter, comparable sales decreased 3.4% year over year.
In addition, the board of directors declared a quarterly cash dividend on common stock of $0.67 per share. The dividend is payable June 26, 2019, to shareholders of record at the close of business on June 12.
Looking ahead to the fiscal full year, the company expects to see EPS in the range of $5.15 to $5.45, down from its previous guidance calling for EPS of $5.80 to $6.15. Consensus estimates call for $6.04 in EPS and $19.34 billion in revenue for the year.
Michelle Gass, Kohl’s CEO, commented:
The year has started off slower than we’d like, with our first quarter sales coming in below our expectation. We are actively addressing the opportunities that impacted our first quarter sales and we have strong initiatives that will enhance our sales performance in the second half. We are incredibly excited about our nationwide rollout of the Amazon returns program as well as several important brand launches and program expansions. Operationally, the team reacted appropriately throughout the quarter by managing expenses in line with our expectations. While we are planning the year more conservatively, we continue to invest in our business and operate with a view on our long-term success.
Shares of Kohl’s were last seen down 12% at $55.32, in a 52-week range of $54.15 to $83.28. The consensus price target is $76.13.