Kohl's Beats Estimates, Guides for Low Double-Digit Sales Growth in 2021
Department store chain Kohl's (NYSE: KSS) outdid Wall Street consensus estimates with both its revenue and earnings per share when it reported its fourth-quarter 2020 results this morning, despite a 10.1% drop in revenue compared to the year-ago quarter. According to Zacks Equity Research, its $2.22 fourth-quarter EPS delivered a 113.5% positive surprise above the Wall Street consensus, while its $6.14 billion revenue beat the predictions by 0.29%.
Besides beating Wall Street's forecasts, the big retailer's adjusted quarterly EPS climbed 12% year over year. According to CEO Michelle Gass, the company "ended the year in a very solid financial position, and we enter 2021 with strong momentum," which Kohl's expects to continue in light of its $2.3 billion in cash and its upcoming Sephora partnership, among other factors.
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Source Fool.com
