Kohl's Corporation (NYSE: KSS) posted mixed second-quarter fiscal 2024 results, with the bottom line increasing year over year and surpassing the Zacks Consensus Estimate. However, the top line declined and missed the consensus mark.
During the quarter, KSS faced pressure from a challenging consumer environment and a decline in its core business. Customers became more selective with their spending, leading to lower sales despite an increase in transaction frequency. This overshadowed robust performance in key growth areas, including Sephora, home decor, gifting and impulse purchases.
Despite the challenges, Kohl's saw an improved gross margin along with better inventory and expense management. The company remains optimistic about its growth efforts, including an upcoming partnership with Babies "R" Us. It revised its sales outlook downward while raising its earnings guidance for the fiscal 2024.
Kohl's Corporation Price, Consensus and EPS Surprise
Kohl's Corporation price-consensus-eps-surprise-chart | Kohl's Corporation Quote
Kohl's Quarterly Results Overview: Key Financial Metrics
Kohl's posted earnings of 59 cents per share compared with earnings of 52 cents posted in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate of 46 cents. The upside can be attributed to gross ...
