Stock Story - Department store chain Kohl’s (NYSE:KSS)reported results in line with analysts' expectations in Q1 CY2024, with revenue down 5.3% year on year to $3.38 billion.
It made a GAAP loss of $0.24 per share, down from its profit of $0.13 per share in the same quarter last year.
Is now the time to buy Kohl's? Find out by reading the original article on StockStory, it's free . Kohl's (KSS) Q1 CY2024 Highlights: Revenue: $3.38 billion vs analyst estimates of $3.
36 billion (small beat) EPS: ($0.24) vs analyst estimates of $0.06 (large miss) Lowered full year guidance across the board Gross Margin (GAAP): 43.
1%, up from 42.7% in the same quarter last year Free Cash Flow was -$133 million compared to -$296 million in the same quarter last year Same-Store Sales fell 4.4% year on year, in line with the same quarter last year (miss vs expectations of down 0.
4% year on year) Market Capitalization: $3.02 billion Tom Kingsbury, Kohl’s chief executive officer, said, “Our first quarter results did not meet our expectations and are not reflective of the direction we are heading with our strategic initiatives. Regular price sales increased year-over-year, with early success in underpenetrated categories, positive trends in our Women’s business, and continued strong growth in Sephora.
However, lower clearance sales versus last year represented a more than 600 basis point drag on comparable sales. Importantly, we were able to deliver gross margin expansion, manage inventory down.
