United States

Kohls Corp (KSS)

KSS on New York Consolidated

12 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Kohl's CEO- Relatively bullish on Q4 based on trend of business coming into the quarter
Thursday, 9 Nov 2017 09:37am EST 

Nov 9 (Reuters) - Kohls :CFO- positive impact of less clearance markdowns in Q3 more than offset by higher shipping costs in online business and higher reserves.CFO- approximately $8 million of SG&A increase in Q3 was attributable to the hurricanes harvey and irma.On conf call- Q3 regular priced sales were up 1% while clearance sales were down 7%.On conf call- Q3 sales in our core women's business was negative but saw improvement in private brands.CEO- "a portion of improvement in sales trend is attributable to our targeted efforts to capture share from competitive store closures".CEO- expect a very strong holiday performance in both active apparel and footwear categories.CEO- online generated demand sales grew 15% for Q3, continue to grow the percentage of online orders that are fulfilled by stores.Will pilot a further evolution of loyalty program in Q2 next year with about 100 stores, company-wide rollout intended for fy2019.CEO says both Amazon tests launched successfully in mid-october, declines to share further details.Overall in the fourth quarter, have increased our marketing.Inventory per store at the end of Q3 was down low single digits and is expected to be down mid-single digits at the end of the year.The 3 hurricanes affected about a little over 100 of our stores, those stores remain closed for between 2 and 7 days.Digital marketing is now our largest marketing spend, we're delivering more specific offers based on customers' past preferences.  Full Article

Kohls Corp says enters into a second amended and restated credit agreement​
Friday, 3 Nov 2017 04:37pm EDT 

Nov 3 (Reuters) - Kohls Corp : :Kohls Corp - ‍on November 3, 2017, Kohl's Corporation entered into a second amended and restated credit agreement​.Kohls Corp - ‍credit agreement provides for a $1.0 billion senior unsecured five-year revolving credit facility​.Kohls Corp - ‍company may request an increase in revolving credit commitments under facility of up to $300.0 million in certain circumstances​.Kohls Corp - ‍events of default under credit agreement include a change of control of company and company's default of other debt exceeding $75.0 million​.  Full Article

Kohl’s CEO Kevin Mansell to retire in May 2018, Michelle Gass appointed CEO-elect
Tuesday, 26 Sep 2017 09:00am EDT 

Sept 26 (Reuters) - Kohls Corp :kohl’s announces CEO succession plan: Kevin Mansell to retire in May 2018, Michelle Gass appointed CEO-elect.Kohls Corp - ‍Sona Chawla, Kohl's chief operating officer, will assume role of president​.  Full Article

Kohls Corp - ‍82 stores to offer free returns for Amazon customers starting Oct
Tuesday, 19 Sep 2017 07:00am EDT 

Sept 19 (Reuters) - Amazon.Com Inc :Kohls Corp - ‍82 stores across Los Angeles and Chicago will be offering free, convenient returns for Amazon customers starting in October​.Kohls Corp - Kohl's will pack and ship eligible Amazon return items for free​.  Full Article

Kohl's announces new Amazon smart home experience at Kohl's stores
Wednesday, 6 Sep 2017 07:00am EDT 

Sept 6 (Reuters) - Kohls Corp ::Kohl's announces new Amazon smart home experience at Kohl's stores.Kohls Corp - ‍new Amazon smart home experience will be available in 10 select kohl's stores across Los Angeles and Chicago areas starting in October​.  Full Article

Kohl's conf call- Q2 inventory per store decreased 2 pct
Thursday, 10 Aug 2017 10:58am EDT 

Aug 10 (Reuters) - Kohls :On conf call- traffic still remains slightly negative in the quarter, an improvement in traffic was the driver of improved performance in sales.On conf call- Q2 inventory per store decreased 2%.On conf call- stores fulfilled 31% of our online demand units in Q2.As part of small stores strategy, will open 4 new 35,000 sq.foot stores in October in more dense trade areas.Difference between merchandise margin, which rose, and gross margin, which didn't, was a function of an accelerated rate of growth in digital business.Active business produced a mid-teen double-digit increase over last year across both footwear and apparel, driven by addition of Under Armour, Nike and Adidas sales increases.Now believe that we can capture over $250 million of SG&A savings from current annualized rate over next 3 years.  Full Article

Kohl's Corporation posts Q2 adj. earnings $1.24/shr
Thursday, 10 Aug 2017 07:00am EDT 

Aug 10 (Reuters) - Kohls Corp :Kohl's Corporation reports second quarter financial results.Kohls Corp - qtrly sales $‍4,144​ million versus $4,182 million last year.Kohls Corp - qtrly earnings per share ‍$1.24​.Kohls Corp - qtrly comparable store sales down ‍0.4​ percent.Kohls Corp - ‍on August 8, 2017, Kohl's board of directors declared a quarterly cash dividend on company's common stock of $0.55 per share​.Q2 earnings per share view $1.19, revenue view $4.13 billion -- Thomson Reuters I/B/E/S.Qtrly earnings per share excluding items $1.24.  Full Article

Kohl’s announces Bruce Besanko as chief financial officer
Tuesday, 27 Jun 2017 08:00am EDT 

June 27 (Reuters) - Kohls Corp ::Kohl's announces Bruce Besanko as chief financial officer.Says Bruce H. Besanko appointed CFO.Kohls Corp - appointment of Bruce H. Besanko to position of chief financial officer.Kohls Corp - Besanko spent four years with Supervalu in financial leadership roles, including chief operating officer and chief financial officer.  Full Article

Kohl hires Bruce Besanko as CFO from Supervalu - WSJ, citing sources
Tuesday, 27 Jun 2017 07:30am EDT 

June 27 (Reuters) - :Kohl hires Bruce Besanko as CFO from Supervalu - WSJ, citing sources.  Full Article

Kohl's CEO - Saw strength across activewear due in large part to launch of Under Armour
Thursday, 11 May 2017 11:47am EDT 

May 11 (Reuters) - Kohls Corp :On conf call- Q1 average transaction value increased driven by a continued increase in average unit retail.CEO -saw strength across active businesses due in large part to launch of Under Armour <<>>, which has exceeded our expectations.CEO -inventory effectiveness initiatives, including supply chain speed initiative, localization efforts and leveraging store inventories for online demand fulfillment, helped inventory and gross margin results.CEO -buy online, pick up in store demand reached 13% of online orders, up from 8% last year.CEO -will be launching a very targeted effort to capture sales from competitor stores that are closing.CEO -plan to open 4 new 35,000 square foot stores this fall in very dense existing markets.CEO -will continue reducing the number of private-label brands we offer in women's to "help" sales of bigger brands such as sonoma.  Full Article


Kohl's profit misses estimates on higher costs; shares fall

Department store operator Kohl's Corp reported a lower-than-expected quarterly profit, hit by higher costs and store closures due to hurricanes, sending its shares down 7 percent and dragging the sector down.