Kohl's Corporation reported disappointing financial results for the first quarter of fiscal 2024, leading to a significant drop in its stock price. The retailer posted a net loss of $27 million, or $0.24 per share, compared to a net income of $14 million, or $0.13 per share, in the same period last year. Net sales decreased by 5.3% year-over-year to $3.18 billion, falling short of the estimated $3.34 billion. Comparable sales were down 4.4%, and the company lowered its full-year guidance, expecting a sales decrease of 2% to 4% and adjusted EPS between $1.25 and $1.85. Gross margin as a percentage of net sales increased by 48 basis points to 39.5%. Operating income was $43 million compared to $98 million last year. Following the earnings report, Kohl's stock plummeted by 25%, marking its worst day ever. The company's management attributed the poor performance to weak store propositions, dull merchandise, and lack of value, which drove customers to other retailers.
🇺🇸 Kohl's stock plummets 25% after massive earnings miss https://t.co/3gk1Z8kAH0
Here's a snapshot of the first quarter earnings of Kohl’s which stock is down almost -23% today. (Via Bloomberg): •Comparable sales -4.4%, estimate -1.74% (Bloomberg Consensus) •Adjusted loss per share 24c vs. EPS 13c y/y, estimate EPS 6.7c •Gross margin 39.5% vs. 39% y/y,… https://t.co/ogn8VosiJz
Kohl’s shares slid after the company said it posted a first-quarter loss on revenue that fell more than 10% from a year earlier. Comparable-store sales fell 4.4%, and the department-store retailer said its full-year earnings would be well below the latest Wall Street estimates. https://t.co/Ju2W8KNNC4
Kohl's Corp. stock has worst day of the year after Q1 results https://t.co/6SOEAnTyK9
Kohl's set for worst day ever on surprise quarterly loss, annual forecast cut https://t.co/HA236Nd8oZ https://t.co/6IuW4waJas
Kohl's stock $KSS DROPS 25% after reporting a net loss of $27M in Q1'24 compared to a net income of $14M in the same period last year. Revenue came in at $3.18 billion, well below expectations of $3.34 billion, down 5.3% YoY. Comparable sales were down 4.4%, significantly… https://t.co/skRGPwdWco https://t.co/qhlniSnmjb
$KSS | Kohl's Q1 Earning Report: Revenue $3.2B 📉, EPS ($0.24) 📉. Strategic initiatives underway, Sephora growth continues! 👉 Financial Performance: ➡️ Total Revenue: $3.382 billion, down 5.3% year over year. ➡️ Net Sales: $3.2 billion, down 5.3%. ➡️ Comparable Sales: down… https://t.co/zYIdFOsbxF
Kohl’s performance is dismal. Management is talking a good game; but on the field, there’s a complete lack of control and no semblance of a strategy. Q1 sales are down by 16.8% compared to 2019 - a terrible performance. I chatted with the WSJ... https://t.co/EgB2vTIRgv
*KOHL'S SHARES SINK BY RECORD 25% AFTER CUTTING SALES OUTLOOK
KOHL'S $KSS OPENS TRADING DOWN ALMOST 25% Kohl's reported earnings this morning posting numbers of EPS of -$0.24 missing expectations of $0.03 Revenue of $3.2B missing expectations of $3.3B https://t.co/2rRGmPbdFI
Kohl’s shares plunged in premarket trading after the retailer reported sales and earnings that missed analyst estimates, extending a string of disappointing results https://t.co/4Fj5ix6EHC
1/ Kohl's $KSS Q1 2024 Results: Misses Earnings by ~700% & Beats Revenue expectations by ~5% Total Revenue: $3.38 Bn, down 5% YoY, down 40% QoQ Net loss: $27 MM, down from net income of $14 MM YoY, down from $186 MM QoQ Shares down ~27% after results https://t.co/kAPrc7zd6Q
Kohl's $KSS sinks 17% on poor results, guidance https://t.co/TBRUSflHlL https://t.co/0WkT8k6VsY
BREAKING: Kohls stock, $KSS, falls 25% after unexpectedly reporting a net LOSS of $27 million in Q1 2024. Revenue came in at $3.18 billion, below expectations of $3.34 billion, down 5.3% year-over-year. The company also lowered 2024 guidance as they now expect full-year net… https://t.co/3IGppbZvuf
Kohl's reports disappointing Q1 FY24 earnings with revenue decreasing 5.3% to $3.178B. Operating income at $43M, EPS at $(0.24) vs $0.03 estimate. Stock falls as a result. $KSS
Kohl's stock plummets 20% after massive earnings miss https://t.co/ezUbkBS6YN
$KSS whoa Kohl's reported a net loss of $27 million, or a loss of 24 cents per share, compared to a year-ago profit of $14 million, or 13 cents per share. Net sales decreased 5.3% to $3.18 billion compared to the year prior, with comparable sales down 4.4%. Kohl's expects…
Kohl's shares plunged after sales and earnings fell short of estimates, and the retailer lowered its guidance https://t.co/LCK03PpoP2
$KSS Kohl's misses and offers weak FY guidance. -20% pre-mkt https://t.co/bjdUhmYOKT
Kohl’s Stock Dives After Surprise Loss in Earnings Report. What to Know. https://t.co/vAwobjLaWu
$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
$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…
Kohl's Reports First Quarter Fiscal 2024 Financial Results https://t.co/sjRpIpEzdh https://t.co/PLcMaStPpZ
$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.