Kohl’s raises earnings outlook after posting strong Holiday sales

Kohl’s Corporation reported 1.2 percent rise in comparable sales for November and December 2018 combined on a shifted basis, which compares the nine weeks ended January 5, 2019 and January 6, 2018.

“We are delighted with our 1.2 percent shifted comparable sales increase for the Holiday period, which builds on the positive momentum we have achieved throughout the year,” said Michelle Gass, Kohl’s chief executive officer in a statement.”

Based on the strong Holiday sales performance, the company now expects its fiscal 2018 diluted earnings per share to be 5.50 dollars to 5.55 dollars, compared to its prior guidance of 5.35 dollars to 5.55 dollars. This guidance excludes the debt extinguishment charge of 42 million dollars or 19 cents per diluted share, which was recorded in the first quarter of fiscal 2018. It also excludes other non-recurring charges the company anticipates recording related to the voluntary debt redemption announced in December 2018 and actions to be taken in the fourth quarter as part of the company's operational excellence initiatives.

Picture:Facebook/Kohl's

 

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