Kohl's Q1 results show a decline in total sales by 5.3% and comparable sales by 4.4%, with a net income loss of $27 million. The company attributes the poor performance to unattractive stores and merchandise, leading customers to shop elsewhere. Best Buy also faces challenges, with a decline in comparable sales by 6.1% and a decrease in revenue. Both companies provide weak guidance for the future, impacting their stock prices.
$KSS Kohl's misses and offers weak FY guidance. -20% pre-mkt https://t.co/bjdUhmYOKT
$KSS Earnings: - Diluted loss per share of $0.24 - Net sales decreased 5.3% year-over-year, to $3.2 billion, with comparable sales down 4.4% - Gross margin as a percentage of net sales was 39.5%, an increase of 48 basis points. - Operating income was $43 million compared to $98… https://t.co/sup2ffxgpL
$BBY Earnings: - Enterprise Revenue: $8.84 billion - GAAP Diluted EPS Increased 2% to $1.13 - Non-GAAP Diluted EPS Increased 4% to $1.20 - Comparable Sales Declined 6.1% -FY25 Non-GAAP Diluted EPS Guidance Range of $5.75 to $6.20 Unchanged “Today we are reporting… https://t.co/5gq6tUwlrj
$BBY Best Buy beats on eps, misses on rev. Comps -6.1% “The mix of macro factors continued to create a challenging sales environment for our category during the quarter and our sales were slightly softer than our expectations." Stock flat-ish pre-mkt https://t.co/FHwzuvNJI0
$KSS | Kohl’s Q1'24 Earnings Highlights: 🔹 Adj. Loss per Share: -$0.24 (Est. EPS $0.067) 🔴 🔹 Net Sales: $3.18B (Est. $3.34B) 🔴 🔹 Comparable Sales: -4.4% (Est. -1.74%) 🔴 FY'24 Guidance: 🔹 Adj. EPS: $1.25 to $1.85 (Prev. $2.10 to $2.70) 🔴 🔹 Net Sales: Decrease of 2% to…
$KSS | Kohl’s Q1 24 Earnings: - Net Sales $3.18B (est $3.34B) - ADJ Loss/Shr 24C (est. EPS 6.7C) - Sees FY24 Sales Decrease Of 2% To 4%
Kohl's Q1 results: 💵 Total sales: -5.3% 👚 Comp sales: -4.4% 📉 Net income: -292.9% ($27m loss) Dismal numbers, mostly caused by a very weak proposition: depressing stores, dull merchandise, lack of value. Customers are going elsewhere to spend their money.