The Kohl’s emblem is displayed on the outside of a Kohl’s retailer on January 24, 2022 in San Rafael, California.
Justin Sullivan | Getty Photos
Kohl’s on Tuesday reported fiscal fourth-quarter gross sales that got here in beneath analysts’ estimates for the important thing vacation quarter, as ongoing provide chain obstacles roiled retailers and shrunk inventories.
Its earnings beat expectations, nevertheless, although shares had been lately down roughly 1% in premarket buying and selling.
The retailer notably issued an upbeat outlook for fiscal 2022, calling for web gross sales to rise 2% to three%. Analysts had been in search of year-over-year development of two.2%, in accordance with Refinitiv.
This is how Kohl’s did in its fourth quarter in contrast with what Wall Road was anticipating, in accordance with a survey of analysts by Refinitiv:
- Earnings per share: $2.20 adjusted vs. $2.12 anticipated
- Income: $6.22 billion vs. $6.54 billion anticipated
As of Monday’s market shut, Kohl’s shares are up about 12% 12 months up to now, bringing the corporate’s market cap to $7.7 billion.
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Discover the complete earnings press launch from Kohl’s here.