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Kohl’s (KSS) 3Q18 Results: Sales Rise Due to Rivals’ Store Closures; Raises EPS Guidance

Executive Summary

  • Kohl’s reported 3Q18 net sales of $4.37 billion, up 1.3% year over year and in line with the $4.37 billion consensus estimate. Adjusted EPS was $0.98, beating the $0.95 consensus estimate and up from $0.70 in the year-ago quarter.
  • Comparable sales were up 2.5% year over year, beating the consensus estimate of 2.4%.
  • Kohl’s raised its full-year earnings guidance per share and now expects FY18 EPS to be $5.35–$5.55, up slightly from prior guidance of $5.15–$5.55 but still in line with the consensus estimate of $5.49. This excludes the one-time debt extinguishment charge of $42 million or $0.19 per share taken in the first quarter. For the full year, the company expects comparable sales to increase 1%–2%.

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