Kohl’s Corp. (NYSE: KSS) reported its fiscal fourth-quarter financial results before the markets opened on Tuesday. The retailer said that it had $1.99 in earnings per share (EPS) and $6.83 billion in revenue. The consensus estimates had called for $1.88 in EPS and revenue of $6.52 billion, and in the same period of last year, Kohl’s said it had EPS of $2.24 on $6.54 billion in revenue.
For the latest quarter, Kohl’s posted flat comparable sales, which comes in lower than last year’s increase of 1.0%.
The board of directors declared a quarterly cash dividend of $0.704 per share on Kohl’s common stock. The dividend is payable April 1, to shareholders of record at the close of business on March 18.
In terms of guidance, the company expects adjusted annual EPS to be $4.20 to $4.60. Consensus estimates call for $4.59 in EPS and $19.04 billion in revenue for the full fiscal year.
Michelle Gass, Kohl’s CEO, commented:
While 2019 was a year in which our financial results did not meet our expectations, it was also a year of innovation and investment that further strengthened Kohl’s differentiation in the market. We are encouraged by the acceleration of traffic and new customer acquisition in our stores and online driven by the unprecedented level of new brands and partnerships we launched during the year. I want to thank all of our associates for their ongoing commitment to Kohl’s and I am confident that we will build on our strengths in 2020 to stabilize and position the business for future growth.
Kohl’s stock traded down less than 2% at $37.86 early Tuesday, in a 52-week range of $37.11 to $75.91. The consensus price target is $46.69.
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