{"id":115081,"date":"2021-03-02T13:15:43","date_gmt":"2021-03-02T13:15:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115081"},"modified":"2021-03-02T13:15:43","modified_gmt":"2021-03-02T13:15:43","slug":"kohls-shares-rise-after-retailer-posts-better-than-expected-earnings-sees-sales-growth-in-2021","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/kohls-shares-rise-after-retailer-posts-better-than-expected-earnings-sees-sales-growth-in-2021\/","title":{"rendered":"Kohl&#x27;s shares rise after retailer posts better-than-expected earnings, sees sales growth in 2021"},"content":{"rendered":"<ul>\n<li>Kohl&#x27;s fourth-quarter earnings and sales topped analysts&#x27; estimates.<\/li>\n<li>The retailer pointed to stronger growth in 2021, as its initiatives to drive sales growth are expected to take hold.<\/li>\n<li>CEO Michelle Gass said in a statement that the company was positioned heading into 2021 with strong momentum.<\/li>\n<\/ul>\n<p>Kohl&#x27;s on Tuesday reported fourth-quarter earnings and sales that topped analysts&#x27; estimates, and pointed to stronger growth in 2021.<\/p>\n<p>Facing pressure from activist investors, the company said it will reinstate its dividend and buy back shares.<\/p>\n<p>With its sales strained by the pandemic, Kohl&#x27;s has been working to drive more shoppers online, and add brands that sell fitness gear and makeup to lure new customers.<\/p>\n<p>&quot;After an extraordinary year managing through the pandemic, we ended the year in a very solid financial position, and we enter 2021 with strong momentum,&quot; Chief Executive Michelle Gass said in a statement.<\/p>\n<p>Kohl&#x27;s shares were up around 1% in premarket trading.<\/p>\n<p>Here&#x27;s how the company did during the quarter ended Jan. 30 compared with what analysts were expecting, using a Refinitiv survey:<\/p>\n<ul>\n<li>Earnings per share: $2.22 adjusted vs. $1.01 expected<\/li>\n<li>Revenue: $5.88 billion vs. $5.86 billion expected<\/li>\n<\/ul>\n<p>Kohl&#x27;s reported net income of $343 million, or $2.20 per share, compared with $265 million, or $1.72 a share, a year earlier. Excluding one-time charges, the company earned $2.22 per share, topping the $1.01 forecast by analysts.<\/p>\n<p>Sales fell to $5.88 billion from $6.54 billion a year earlier, topping the $5.86 billion forecast by analysts.<\/p>\n<p>Online sales jumped 22% from a year earlier and accounted for 42% of its total sales.<\/p>\n<p>The company expects sales to rise by a mid-teens percentage this year. Analysts, on average, expected sales growth of 17.5%, or $17.64 billion, this year, according to Refinitiv.<\/p>\n<p>Last week, Kohl&#x27;s rejected an investor group&#x27;s attempt to seize control of its board. The retailer has argued it would disrupt the momentum it has had in revamping its business. The group, which consists of Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital, owns a 9.5% stake.<\/p>\n<p>On Tuesday, Kohl&#x27;s said it would spend between $200 million to $300 million on share repurchases thisyear. It said it plans to invest at least $550 million in capital expenditures, with some of that money going toward the debut of hundreds of mini Sephora shops in its stores, and opening its sixth U.S. e-commerce fulfillment center.<\/p>\n<p>Late last month, Kohl&#x27;s said its board declared a dividend payment of 25 cents per share.<\/p>\n<p>Kohl&#x27;s shares are up about 45% over the past 12 months, as of Monday&#x27;s market close. The retailer has a market cap of $8.99 billion, which has grown to be bigger than Nordstrom&#x27;s and Macy&#x27;s.<\/p>\n<p><em>This story is developing. Please check back for updates.<\/em><\/p>\n<p>Find the full press release from Kohl&#x27;s here.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/03\/02\/kohls-kss-earnings-q4-2020.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kohl&#x27;s fourth-quarter earnings and sales topped analysts&#x27;<\/p>\n","protected":false},"author":3,"featured_media":115080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kohl&#x27;s shares rise after retailer posts better-than-expected earnings, sees sales growth in 2021 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/kohls-shares-rise-after-retailer-posts-better-than-expected-earnings-sees-sales-growth-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kohl&#x27;s shares rise after retailer posts better-than-expected earnings, sees sales growth in 2021 - 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