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Today’s Research Reports on Stocks to Watch: Kohl’s and Best Buy

NEW YORK, NY / ACCESSWIRE / March 2, 2018 / Best Buy shares soared on Thursday after announcing a stellar fourth quarter report. The company also announced this week via a memo to employees that it will be closing all 250 of its small mobile phone stores in the U.S. Kohl's shares also posted strong fourth quarter results and soared 5% before the market opened but then reversed and closed the day down 5%.

RDI Initiates Coverage on:

Kohl's Corporation
https://rdinvesting.com/news/?ticker=KSS

Best Buy Co., Inc.
https://rdinvesting.com/news/?ticker=BBY

Kohl's shares closed down 5.05% on about 11.5 million shares traded on Thursday. The loss was despite the retailer announcing fourth quarter results that topped expectations. Traders were probably worried because the company has forecast first quarter earnings below street's estimate. For the quarter, Kohl's revealed a profit of $1.87 a share. Analysts had been waiting for a profit of $1.77 a share. Revenue came in at $6.78 billion, a growth of 9.2%. Analysts had been waiting for revenue of $6.74 billion. Same-store sales also saw a growth of 6.3%. Looking ahead the company is expecting 2018 EPS in the range of $4.95 to $5.45. Analysts are expecting EPS of $4.67. For the first quarter of 2018, company expects EPS in the range of 45 cents to 50 cents, below the 55 cents a share expected by the street. The company also revealed that later this year it will be bringing Aldi discount grocer to as many as 10 of its stores in a pilot test.

Access RDI's Kohl's Corporation Research Report at:
https://rdinvesting.com/news/?ticker=KSS

Best Buy's shares closed up 3.95% yesterday on around 13.3 million shares traded. The consumer electronics retailer announced its fourth quarter results on Thursday that were better than expected. The company also raised its outlook for the current year. Best Buy revealed an adjusted $2.42 a share for the holiday quarter. This was a gain of 25% YOY. Revenue at $15.36 billion was also a gain of 14%. Analysts were waiting for adjusted EPS of $2.05 and revenue of $14.51 billion. The company also revealed that same-store sales saw a growth of 9% for the period ended February 3rd. Chief Financial Officer Corie Barry remarked, "The comparable sales growth of 9% in the quarter is the result of the strong execution of our strategy combined with better product availability, a continued healthy consumer confidence and positive macro conditions, strength in the gaming category, and a favorable competitive environment, as we benefited from the exit or decline of certain competitors." Looking ahead, Best Buy is expecting adjusted EPS of $4.90 a share and revenue of $41.5 billion for the current year, fiscal 2019. Analysts are waiting for EPS of $4.75 and revenue of $40.9 billion. For the current quarter, Best Buy has projected EPS of 71 cents adjusted and revenue of $8.7 billion. Analysts are waiting for EPS of 75 cents and revenue of $8.7 billion as well.

Access RDI's Best Buy Co., Inc. Research Report at:
https://rdinvesting.com/news/?ticker=BBY

Our Actionable Research on Kohl's Corporation (NYSE: KSS) and Best Buy Co., Inc. (NYSE: BBY) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com


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