Kohl's misses by $0.02, misses on revs; reaffirms FY15 EPS guidance; Q1 comps -3.2%
- Reports Q1 (Apr) earnings of $0.60 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.62; revenues fell 3.1% year/year to $4.07 bln vs the $4.22 bln consensus.
- Co reaffirms guidance for FY15, sees EPS of $4.05-4.45 vs. $4.33 Capital IQ Consensus Estimate.
- Co reported Q1 comparable store sales of -3.4% vs -0.2% Street expectations.
- Kohl's ended the quarter with 1,160 stores in 49 states, compared with 1,155 stores at the same time last year. The Company opened four new store locations, relocated one existing store and permanently closed two stores during the first quarter of 2014.
- "We did not achieve our first quarter sales goals, but we were encouraged by the improvement in sales as the quarter progressed. Our teams managed our inventory levels appropriately and expenses were controlled throughout the organization during the quarter."