Company Overview - Kohl's has not sponsored any events related to the Republican National Convention, maintaining a stance of political neutrality for over a decade [2][5][11] - The company is focusing on a turnaround strategy, particularly leveraging its locations in suburban strip malls as competitors like Macy's close stores [8] Financial Performance - Kohl's shares fell over 20% earlier this month after missing Wall Street's expectations for earnings and revenue [9] - The company is experiencing shrinking sales and is relying on an aging customer base while facing competition from retailers like Target, Shein, and Amazon [19] Market Strategy - To attract younger shoppers, Kohl's is opening more Sephora shops, adding Babies R Us locations, and expanding its trendy merchandise offerings, including fashion-forward apparel and home décor [20] - The decision to refrain from donating to the convention aligns with the company's efforts to stabilize in a competitive market [18] Industry Context - The Republican National Convention is expected to attract around 50,000 attendees from July 15-18, with a fundraising goal of approximately $70 million [12][17] - Other major Wisconsin companies, such as Northwestern Mutual and Fiserv, are planning to directly sponsor the convention, contrasting with Kohl's and ManpowerGroup, which are not participating [13]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 4, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code (262) 703-7000 Securities registered pursuant to Section 12(b) of the Act: | | Trading | Name of each exchange on | | --- | --- | --- | | Title of each ...

Core Viewpoint - Kohl's Co. reported a surprising loss of 24 cents in Q1 2024, contrasting with expectations of a profit of 5 cents, leading to a significant drop in share price [1][7] Financial Performance - The company experienced a net loss of $27 million, with revenues declining by 10.4% year-over-year to $3.20 billion, missing estimates of $3.41 billion [7] - Comparable sales fell by 4.4% year-over-year, while net sales decreased by 5.3% [7] - Despite the losses, inventory levels decreased by 13% year-over-year to $3.1 billion, and gross margin improved by 48 basis points [7][10] Market Reaction - Following the earnings report, Kohl's shares gapped down over 28% to a low of $19.58, but later recovered to around $22 [1][6] - The current market capitalization stands at approximately $2.5 billion, while the estimated value of its real estate holdings is between $7 billion to $8 billion [5][8] Strategic Outlook - Kohl's updated its full-year forecasts, expecting net sales to decline by 2% to 4% and comparable sales to decrease by 1% to 3% [8] - The company anticipates diluted EPS to be between $1.25 and $1.85, with capital expenditures around $500 million [8] Consumer Demand and Inventory Management - The company is facing challenges with consumer demand, particularly among middle-income customers affected by economic pressures [11] - Kohl's CEO indicated that while the company did not meet internal expectations, they believe the current quarter is not indicative of future performance, emphasizing ongoing strategic initiatives [9][11] Dividend Information - Kohl's has an annual dividend yield of 8.39%, with a quarterly cash dividend of 50 cents declared [5][7]

Kohl's stock price tanked by as much as 26% on Thursday after the department store chain posted a surprise quarterly loss on weaker consumer demand — especially among inflation-battered middle-class shoppers, the company said. The Wisconsin-based company cut its annual sales and profit forecasts as shoppers are still prioritizing essential purchases over discretionary products like apparel, electronics and home goods as they face dwindling pandemic-era savings. Discretionary spend of Kohl's middle-income cu ...

Kohl's shares plunged as much as 25% on Thursday after the retailer reported a surprise first-quarter loss and lowered its forecast for the year. The department store chain saw a 5.3% drop in net sales for the fiscal quarter ending May 4, and comparable sales were down 4.4%. The company said lower clearance sales versus last year amounted to a 600-basis-point drag on comparable sales. "Our first quarter results did not meet our expectations and are not reflective of the direction we are heading with our str ...

Kohl's is looking to boost its sagging sales by promoting value to consumers who have been buffeted by high interest rates and inflation. During the quarter ended May 4, the retailer's net sales decreased 5.3% year-over-year and its comparable sales declined 4.4%, according to a Thursday (May 30) earnings release. Kohl's attributed the drop in part to a reduction in clearance sales, which more than offset an increase in regular price sales. "As it relates to the consumer backdrop, our customers continue to ...

Core Viewpoint - Kohl's Corporation reported disappointing first-quarter fiscal 2024 results, with both revenue and earnings declining year over year and missing the Zacks Consensus Estimate [1][3] Financial Performance - The company posted a loss of $0.24 per share compared to earnings of $0.13 in the same quarter last year, falling short of the Zacks Consensus Estimate of $0.04 [3] - Total revenues were $3,382 million, down from $3,571 million in the prior-year quarter, with net sales decreasing by 5.3% year over year to $3,178 million, missing the consensus estimate of $3,540 million [3] - Comparable sales decreased by 4.4%, although regular price sales showed growth in underpenetrated categories and strength in the Women's business and Sephora [4] Margins and Expenses - Gross margin improved by 48 basis points to 39.5%, exceeding expectations of a 40 basis point increase [5] - SG&A expenses decreased by 0.8% to $1,228 million, but as a percentage of total revenues, it increased by 166 basis points to 36.3% [5] - Operating income fell to $43 million from $98 million in the previous year, with the operating income margin contracting by 148 basis points to 1.3% [6] Cash Flow and Capital Expenditures - At the end of the quarter, Kohl's had cash and cash equivalents of $228 million and shareholders' equity of $3,813 million, with an operating cash flow usage of $7 million for the year ended May 4, 2024 [7] - The company anticipates capital expenditures of nearly $500 million for 2024, focusing on expanding its Sephora collaboration and store-related investments [7] Dividend Declaration - On May 15, 2024, Kohl's declared a quarterly cash dividend of $0.50 per share, payable on June 26, 2024, to shareholders of record as of June 12 [8] Updated Guidance - Kohl's expects net sales to decline by 2-4% in 2024, with comparable sales anticipated to decrease by 1-3%, a revision from earlier expectations of flat to 2% growth [9] - The operating margin is now projected to be between 3-3.5%, down from the previous estimate of 3.6-4.1% [9] - Management envisions earnings per share to be in the range of $1.25-$1.85 [9] Stock Performance - Shares of Kohl's have increased by 12.5% over the past six months, compared to the industry growth of 19.9% [10]

Economic Data Summary - Q1 GDP was revised down to 1.3%, which is 30 basis points lower than the initial estimate, with consumption at 2.0%, the lowest since Q2 2023 [2] - Initial Jobless Claims rose to 219K, exceeding expectations by 1K, while Continuing Claims remained steady at 1.79 million, indicating healthy employment levels [3] - The Advanced U.S. Trade Balance in Goods for April showed a deficit of -$99.4 billion, significantly worse than the expected -$91.5 billion, marking the largest deficit in nearly two years [4] Company Performance - Kohl's (KSS) shares fell nearly 25% after reporting a negative earnings surprise of -700% with losses of -$0.24 per share and revenues of $3.38 billion, which was about 4.5% lower than consensus [5] - Burlington Stores (BURL) saw a stock increase of approximately 17% following a positive earnings beat of 36.5%, reporting earnings of $1.42 per share and revenues of $2.36 billion, exceeding estimates [6] - Foot Locker (FL) shares rose by 15% after beating earnings expectations by 83%, reporting earnings of $0.22 per share, although revenues of $1.88 billion fell short of expectations by 0.41% [7] Housing Market Insights - Pending Home Sales for April are expected to decline by 0.4%, following a significant drop in New Home Sales last week, indicating a slowdown in the housing market amid high mortgage rates [8]

If you're looking for a generous dividend stock, Kohl's could be it -- and it just got a lot cheaper. Kohl's Corporation (KSS -25.91%) stock imploded Thursday morning -- down 26.3% through 10:15 a.m. ET - - after reporting a big net loss where investors had expected a profit. Heading into the first quarter, analysts forecast Kohl's would earn $0.04 per share on sales of $3.3 billion. Both predictions represented declines from Kohl's Q1 2023 report, but the news was even worse than expected. Kohl's didn't ea ...

Kohl's Corp (NYSE:KSS) announced a surprise loss and revenue miss for the first quarter. The retailer also cut its annual sales forecast due to weaker demand, despite discounts and brand variety. Kohl's stock was last seen down 26.4% at $20.08, trading at its lowest level since October as it paces for its worst single-day percentage drop on record. The shares are down more than 28% for 2024, and are trading below recent support stemming from the 20-day moving average. Short sellers are already firmly in con ...