Plus   Neg

Kohl's Guides FY19 Adj. EPS Above Estimates - Quick Facts

While reporting financial results for the fourth quarter and full-year 2018 on Tuesday, retailer Kohl's Corp. (KSS) initiated earnings and comparable sales guidance for the full-year 2019.

For fiscal 2019, the company expects earnings in a range of $5.80 to $6.15 per share on projects comparable sales growth between flat and 2.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.77 per share for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company achieved a 1 percent comparable sales growth.

Last week, Kohl's Board of Directors declared a 10 percent higher quarterly cash dividend on the Company's common stock of $0.67 per share, payable on April 3 to shareholders of record at the close of business on March 20, 2019.

As part of the company's Operational Excellence initiatives, the Company will close four underperforming stores in April, but will open four new smaller format stores later in the year.

It is consolidating call center locations which support both its Kohl's Charge and online customers. Additionally, the Company offered a voluntary retirement program to qualified hourly associates and impaired certain assets.

These actions are expected to generate annual SG&A savings of about $20 million and annual depreciation savings of about $5 million.

As a result of these actions and the company estimates that about $50 million to 55 million of additional charges will be recorded in the first quarter of 2019. Most of the 2019 charges will be related to future lease commitments at the four stores that will be closing.

Kohl's ended fiscal 2018 with 1,159 Kohl's stores in 49 states. During 2018, the Company opened one Kohl's store and relocated two Kohl's stores.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Microsoft Corp. (MSFT) founder Bill Gates has admitted that his greatest mistake was allowing Google's android to become a dominant mobile operating system. Speaking at a Economic Club of Washington luncheon, Gates said to David Rubinstein on Monday, "We're in the field of doing operating systems... McDonald's said Monday that the introduction of fresh beef at its restaurants just over one year ago has helped it gain market share in the informal eating out or IEO category for the first time in five years. In May 2018, the burger chain switched to fresh beef quarter-pound burgers from frozen beef across the U.S., as part of its efforts to provide customers with a "hotter, juicer burger." 'Toy Story 4' has broken global office box records for an animated movie, according to media reports. The movie is the fourth instalment in the 'Toy Story' series and is the sequel to 2010's 'Toy Story 3.' The Disney and Pixar film has reportedly earned $238 million after opening worldwide over the weekend and performed particularly well in Latin America and Europe.
Follow RTT