What to Watch When Kohl’s Reports Tuesday
Kohl’s is scheduled to release its fiscal second-quarter financial results before the markets open on Tuesday.
Kohl’s Corp. (NYSE: KSS | KSS Price Prediction) is scheduled to release its fiscal second-quarter financial results before the markets open on Tuesday. The consensus estimates are calling for $1.53 in earnings per share (EPS) and $4.2 billion in revenue. The same period of last year reportedly had $1.76 in EPS and $4.31 billion in revenue.
The firm announced earlier this quarter that it plans to take on more employees during the back-to-school, fall and holiday seasons. As of mid-July, Kohl’s has hired an early wave of seasonal positions across 500 stores, nearly double the number of stores with early hiring positions compared to last year.
All Kohl’s stores, distribution and e-commerce fulfillment centers will begin seasonal hiring later this summer in August. The company is also now hiring for full-time and part-time store associates to support omnichannel and customer service functions.
About 3,000 associates will be brought on for customer service and omnichannel positions.
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Separately, Kohl’s will begin hiring in October to staff its expanded 130-store omni power center pilot with up to 50 seasonal positions per store.
Excluding Monday’s move, Kohl’s had underperformed the broad markets, with its stock down about 31% year to date. In the past 52 weeks, the stock was down closer to 39%.
A few analysts weighed in on Kohl’s ahead of the results:
- Wedbush has a Neutral rating with a $48 price target.
- OTR Global has a Positive rating.
- Atlantic Securities rates it Underweight with a $42 price target.
- UBS has a Neutral rating with a $57 price target.
- Morgan Stanley’s Underweight rating comes with a $50 target.
Shares of Kohl’s traded up over 4% on Monday to $47.58, in a 52-week range of $43.33 to $83.28. The consensus price target is $60.00.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
