Kohl's (KSS) Tops Q3 EPS by 44c, Revenues Beat

Kohl's (NYSE: KSS) reported Q3 EPS of $0.01, $0.44 better than the analyst estimate of ($0.43). Revenue for the quarter came in at $3.98 billion versus the consensus estimate of $3.86 billion.

“I continue to be very proud of how our organization is navigating through the COVID-19 pandemic. Our third quarter results exceeded our expectations with significant sequential sales and profitability improvement. Digital sales growth remained strong and our actions to improve our gross margin showed great progress. We also further strengthened our financial position and fully repaid our revolver during the period, which underscores the solid cash flow generation of our business,” said Michelle Gass, Kohl’s chief executive officer.

“We entered the holiday season well-positioned and prepared to serve our customers with more omnichannel conveniences in place to deliver the great experience they always expect from Kohl’s. As we look ahead, we are incredibly focused on executing against our new strategic framework, which represents our greatest opportunity to drive long-term sales and profit growth and create shareholder value in the coming years,” said Gass. “In addition, through disciplined capital management we plan to reinstate a dividend during the first half of 2021.”

For earnings history and earnings-related data on Kohl's (KSS) click here.

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