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Categories AlphaGraphs, Earnings, Retail
Department store chain Kohl’s Corp. (NYSE: KSS) on Thursday reported a decline in second-quarter adjusted earnings and revenues. However, the results exceeded expectations.
infographic: kohl’s (kss) q2 earnings and revenue beat estimates – alphastreet
Second-quarter earnings, adjusted for special items, dropped to $1.11 per share from $2.48 per share in the same period of last year. But the latest number came in above the market’s projection. Unadjusted net income was $143 million or $1.11 per share, compared to $382 million or $2.48 per share in the second quarter of 2021.
The weak bottom-line performance reflects an 8% year-over-year decrease in revenues to $4.09 billion, which is above the market’s expectations. The management declared a quarterly dividend of $0.50 per share, payable on September 21, 2022, to shareholders of record on September 7, 2022.
Check this space to read management/analysts’ comments on Kohl’s Q2 results
“Second quarter results were impacted by a weakening macro environment, high inflation, and dampened consumer spending, which especially pressured our middle-income customers. We have adjusted our plans, implementing actions to reduce inventory and lower expenses to account for a softer demand outlook. Kohl’s has navigated difficult periods in the past and I am confident in our ability to successfully manage through the current uncertainty,” said Kohl’s CEO Michelle Gass.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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