Kohl’s (KSS) 4Q15 Results: New Stores and Online Demand to Drive Future Growth

Executive Summary

• Kohl’s reported 4Q15 revenues of $6.4 billion, up 0.8% from $6.3 billion in the year-ago period and slightly above the consensus estimate. Reported adjusted EPS was $1.58, down 13.8% from $1.83 in 4Q14 but $0.02 above consensus.
• The company reported quarterly comps of 0.4%, which represented the fifth consecutive quarter of positive comps. However, the comp growth was below management’s expectation.
• The company guided for adjusted EPS of $4.05–$4.25 and flat–1% comp sales growth for 2016.