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Kohl's Comps For November And December Increases 6.9%

Kohl's Corp. (KSS) reported that its total and comparable sales for November and December 2017 combined increased 6.9% over the same period last year.

The company now expects its fiscal 2017 earnings per share to be $4.10 to $4.20 versus its previous guidance of $3.72 to $3.92. Excluding the Company's previously disclosed fourth quarter tax settlement of $30 million, diluted earnings per share is expected to be $3.98 to $4.08, compared to its prior guidance of $3.60 to $3.80.

The company continues to expect its fiscal 2017 gross margin rate to be higher than the prior year and its SG&A, including the 53rd week, to increase at the high end of its prior guidance of 0.5% - 2.0%.

The company's guidance does not include the impact of recent changes in federal tax legislation which are expected to have a positive impact on the Company's effective tax rate and generate a favorable non-cash tax benefit related to the re-measurement of deferred tax balances in 2017.

The company stated that it will release its fourth quarter and fiscal 2017 results On March 1, 2018.

by Andrew Mariathasan

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