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Kohl’s (KSS) 2Q17 Results: Beats on EPS and Revenue, Maintains Guidance

Executive Summary

  • Kohl’s reported 2Q17 adjusted EPS of $1.24, ahead of the $1.19 consensus estimate and up 1.6% from the year-ago period. Total revenues were $4.14 billion, down 0.9% year over year but beating the $4.13 billion consensus estimate.
  • Comparable-store sales were down 0.4%, which was better than the 1.5% decline analysts had expected and the 1.8% decline recorded in the year-ago quarter. Comps benefited from higher average transaction value, driven by a continued increase in average unit retail that was partially offset by a decrease in units per transaction.
  • The company did not update its prior EPS guidance of $3.50–$3.80 for FY17. The consensus calls for EPS of $3.68. FY17 guidance calls for revenue growth of (1.3)%–0.7% and comp growth in the range of (2)%–0%.

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