Kohl’s Earnings Surprise Was Powered by the Amazon Returns Program
Shareholders of Kohl's (NYSE: KSS) have Amazon (NASDAQ: AMZN) to thank for the better-than-expected fourth-quarter results the discount retail chain posted Tuesday.
After warning last month that its holiday-season sales had been disappointing and that earnings would come in lower than it had guided toward, this week, Kohl's revealed revenues of $6.54 billion and earnings of $1.99 per share, topping Wall Street's consensus forecasts of $6.52 billion in revenue and $1.91 per share in profits.
The retailer was able to outperform its own expectations for the period that ended Feb. 1 because its January sales turned out surprisingly strong thanks to the Amazon returns program, which helped lift comparable sales for the month, bringing them to flat for the quarter.
Source Fool.com
