tiprankstipranks
Kohl’s Corp. (NYSE:KSS) Falls after Q3 Sales Miss
Market News

Kohl’s Corp. (NYSE:KSS) Falls after Q3 Sales Miss

Story Highlights

Kohl’s fell in pre-market trading after the company’s Q3 sales missed estimates.

Department store retailer Kohl’s Corp. (NYSE:KSS) fell in pre-market trading after the company posted Q3 net sales of $3.8 billion. This was a decline of 5.2% year-over-year, which fell short of consensus estimates of $3.99 billion.

Don't Miss our Black Friday Offers:

Furthermore, the retailer reported earnings of $0.53 per share in the third quarter compared to $0.82 per share in the same period last year. However, this surpassed analysts’ estimates of $0.35 per share.

Looking forward to FY23, Kohl’s expects its net sales to decline by 2.8% to 4%. This includes the “impact of the 53rd week, which is worth approximately 1% year-over-year.” Nevertheless, the company raised its FY23 outlook and now forecasts diluted earnings to land between $2.30 and $2.70 per share. For reference, the prior guidance was between $2.10 and $2.70 per share.

Moreover, Kohl’s Board of Directors declared a quarterly cash dividend of $0.50 per share, payable on December 20 to shareholders of record on December 6.

Is KSS Stock a Good Buy?

Analysts remain sidelined about KSS stock with a Hold consensus rating based on three Buys, five Holds, and two Sells. Even as KSS stock has slid by more than 10% in the past year, the average KSS price target of $24.90 implies that the stock is currently fairly valued.

Related Articles
TheFlyKohl’s call volume above normal and directionally bullish
TheFlyUnusually active option classes on open November 22nd
TheFlyKohl’s price target lowered to $18 from $19 at Citi
Go Ad-Free with Our App