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Kohl's (KSS) reports revenue loss in Q3



Customers leave a Kohl's store on November 12, 2015 in San Rafael, California.

Justin Sullivan | Getty Images News | Getty Images

Kohl's earnings and sales for the last quarter fell below analysts' estimates, the company reported Tuesday. It also cut the outlook for the entire year.

Its shares fell more than 11% in premarket trading with the news.

This is how Kohl did for its third-quarter financials, compared to analysts' expectations, based on Refinitive data:

  • Earnings per share: 74 penny, adjusted, against 86 penny expected
  • Revenue: $ 4.36 billion against 4 $ 40 billion expected
  • Same store sales: up 0.4% versus 0.8% growth [1
    9659009] Kohl said it now expects to earn an adjusted $ 4.75 to $ 4.95 per share for fiscal year 2019, compared to a previous range of $ 5.15 to $ 5.45.

    Net income for the period ended November 2 fell to $ 123 million, or $ 0.78 per share, compared with $ 161 million, or $ 98 per share, a year ago. Excluding disposable items, Kohl earned 74 cents per share, with no expectations of SEK 86, based on Refinitive data.

    Net sales fell to $ 4.36 billion from $ 4.37 billion a year ago, missing expectations of $ 4.4 billion.

    Sales in Kohl's store were open for at least 12 months, and from the site increased 0.4%, short of expected growth of 0.8%.

    in October, CEO Michelle Gass said in a statement. "We are entering the holiday season with speed and strategically increasing our investments."

    Gas said "investing in the short term" should help the company "drive profitable growth in the long term."

    Kohl's shares, from Monday's market close, have fallen 12% this year. The department store chain has a market share of around $ 9.3 billion.

    Read the full press release here.

    This is an evolving story. Please check for updates.


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