Kohl's (KSS) Tops Q3 EPS by 19c, Revenues Beats; Withdraws Guidance

Kohl's (NYSE: KSS) reported Q3 EPS of $0.82, $0.19 better than the analyst estimate of $0.63. Revenue for the quarter came in at $4.23 billion versus the consensus estimate of $4.08 billion.

“The Kohl’s Board is focused on supporting the management team during this CEO transition period, as well as the Board’s search committee in its pursuit of finding the next CEO to lead Kohl’s. We look forward to partnering with Interim CEO Tom Kingsbury and the entire leadership team to execute at the highest level this holiday season, while also capitalizing on opportunities to strengthen the business. Kohl’s is a great company with extremely bright prospects and I am confident we will find the right candidate to successfully position Kohl’s to drive sales, grow earnings and create shareholder value. On behalf of the Board, I want to thank all of our associates for their dedication and hard work,” said Peter Boneparth, Kohl’s Independent Board Chair.

GUIDANCE:

Given the recent volatility in business trends, the significant macroeconomic headwinds, along with the unexpected CEO transition, the Company will not be providing guidance for the fourth quarter, and therefore is withdrawing its prior full year 2022 guidance.

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

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