The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
Category: Kohls
Kohl’s Reports Lower-Than-Expected Sales
Department store operator Kohl’s reported lower-than-expected quarterly sales as it struggles with low demand for apparel and competition from online retailers. Net income fell to $252 million, or $1.44 per share, in the fourth quarter ended Jan. 28, from $296 million, or $1.58 per share, a year earlier.
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Many investors are naturally drawn to stocks that offer up a high dividend yield. However, a high yield can often indicate that a company is in trouble.
Will President Trump’s Tax Reform Help Retailers? The Devil Is in the Details
Other department store chains also reported poor results. For the past two years or so, among apparel and home-focused retailers, only off-price merchants such as TJX Companies One of the few potential bright spots for retailers such as Macy’s and Kohl’s is corporate tax reform.
Why Kohl’s, Gartner, and Constellation Brands Slumped Today
The stock market didn’t move much on Thursday, with major market benchmarks finishing the day mixed and with minimal changes from Wednesday’s close. The mood of the market was less positive than investors had seen in previous days, with various news items calling into question whether the upbeat attitude that market participants had had coming into 2017 will actually pan out with improved economic growth and corporate profits.
Department Stores’ Post-Election Rally Is Over
Department store stocks jumped after U.S. election results came in on Nov. 8. Shares of companies like Macy’s saw advances of 20% or more in the weeks following President-elect Donald Trump’s victory, but prices have been pulling back once again in the last couple of weeks. The woes for the retail juggernauts of yesteryear continue, so the negative retracement isn’t a surprise.