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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (76606)	11/26/2024 7:23:34 AM
From: E_K_S	Read Replies (1) \| Respond to of 78507

Kohl's Reports Third Quarter Fiscal 2024 Financial Results Net sales decreased 8.8% and comparable sales decreased 9.3% Diluted earnings per share of $0.20 Updates full year 2024 financial outlook Kohl’s Board announces CEO transition process Tom Kingsbury, Kohl’s chief executive officer, said “Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses. Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies “R” Us shops in 200 of our stores, these were unable to offset the declines in our core business. Importantly, we delivered gross margin expansion and managed expenses tightly in the quarter.” “We are not satisfied with our performance in 2024 and are taking aggressive action to reverse the sales declines. We must execute at a higher level and ensure we are putting the customer first in everything we do. We are approaching our financial outlook for the year more conservatively given the third quarter underperformance and our expectation for a highly competitive holiday season,” Kingsbury continued. ------------------------------------------------------------ As expected lowers forecast; misses by $0.08/share beats on Revenues guides FY25 EPS below consensus. Made my Buy at $15.91 expecting this to trade at/near 4 year lows. A value trap? Should know better in 6-8 months to see if things have stabilized. I do expect a cut in the dividend and/or even eliminate it. Portfolio exposure small 0.4%.