54.60 -0.55 (-1.00%)
Pre-Market: 9:24AM EDT
|Bid||54.27 x 800|
|Ask||54.60 x 800|
|Day's Range||54.15 - 57.71|
|52 Week Range||54.15 - 83.28|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||11.39|
|Earnings Date||Aug 19, 2019 - Aug 23, 2019|
|Forward Dividend & Yield||2.68 (3.77%)|
|1y Target Est||76.13|
Target continues to defy conventional thinking in retail right now.
Major retailers, Kohl’s and JCPenny, are seeing their stocks plunge after reporting weak earnings. Charcy Evers, Retail Trends Analyst, joins Seana Smith on ‘The Ticker’ to discuss how the U.S.-China trade war is impacting retail sales and affecting earnings across the board.
Kohl’s said weather and promotions were among the reasons for the earnings shortfall, but the second half looks brighter thanks to the nationwide rollout of the Amazon Returns program.
Same-store sales, a key gauge of retail success, missed projections at both J.C. Penney and Kohl’s, signaling the chains still have their work cut out for them as shoppers’ preferences evolve. Nordstrom, which has stopped reporting comparable sales, recorded a drop in revenue. Both Nordstrom and Kohl’s slashed their full-year outlooks.
Kohl’s stock closed down sharply after the department store’s fiscal first-quarter earnings and its full-year outlook both missed expectations.
The department store operator's first quarter results and its profit forecast for the year fell short of forecasts. The drug developer is suing the U.S. government over a Medicaid drug rebate decision for its Acthar Gel. Crane Co. is offering to buy the industrial pumps and valves maker for about $895 million in cash.
Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. U.S. President Donald Trump added Huawei to a trade blacklist last week, leading several companies to suspend business with the world's largest telecom equipment maker, a move that could weigh on their sales. Chipmakers, many of which sell to Huawei, bore the brunt of Monday's sell-off.
Kohl's (NYSE:KSS) posted its quarterly earnings figures early Tuesday, bringing in underwhelming results that included an earnings miss, as well as a lowered full-year guidance, causing KSS stock to plummet.The Menomonee Falls, Wi.-based department retail store chain announced first-quarter adjusted earnings of 61 cents per share, which was below the 68 cents per share that Wall Street called for. The company's revenue did come in ahead of what Wall Street projected at $4.09 billion, but still fell 2.9% year-over-year.Kohl's added that its same-store sales were down 3.4% when compared to its first three months of 2018, which was wider than the projected decline of 0.2%. "The year has started off slower than we'd like," said CEO Michelle Gass. "We are actively addressing the opportunities that impacted our first quarter sales, and we have strong initiatives that will enhance our sales performance in the second half."InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe business also lowered its guidance for its fiscal 2019, as it now forecasts adjusted earnings at around $5.15 to $5.45 per diluted share, below its previous outlook that was in the range of $5.80 to $6.15 per diluted share.Gass added that Kohl's is "incredibly excited" about the company's plans to roll out its Amazon returns program nationwide, as well as several upcoming brand launches and program expansions. The company announced yesterday that it had signed a long-term deal with Fanatics to sell a selection of fan gear and other merchandise on its website starting its fall.KSS stock is down roughly 11.3% on Tuesday. More From InvestorPlace * 7 Stocks to Buy that Lost 10% Last Week * 7 Stocks to Buy for Over 20% Upside Potential * 7 High-Yield REITs to Buy (Even When the Market Tanks) Compare Brokers The post Kohl's Earnings: KSS Stock Plunges on Guidance Cut, Big Q1 Miss appeared first on InvestorPlace.
Shares of technology companies helped push Wall Street forward on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. U.S. President Donald Trump added Huawei to a trade blacklist last week, leading several companies to suspend business with the world's largest telecom equipment maker, a move that could weigh on their sales. Chipmakers, many of which sell to Huawei, bore the brunt of Monday's sell-off.
Nordstrom reports Q1 earnings late Tuesday, after Kohl's reported earnings and guidance well below Wall Street views, while J.C. Penney lost more than expected.
Kohl’s Corp. attributes its slow start to fiscal 2019 to unseasonable weather, less productivity in its promotional events and soft business in the home category. Menomonee Falls-based Kohl’s (NYSE: KSS) reported its financial outcomes Tuesday for the first fiscal quarter, ended May 4. The latter figure is down 17 percent compared with the first quarter of 2018, when Kohl’s recorded $75 million in net income.
The broader department store industry has been getting hammered over the past 52-weeks, with the industry as a whole being down around 19%. While the department store industry is declining, discount retailers like TJX have been flourishing. With the overall discount industry up 17% and TJX up even more.
Company executives, during a post-earning call on Tuesday, called out higher tariff and logistics costs as well as aggressive promotions as reasons for the cut in outlook, which has pushed Kohl's 2019 earnings well below analysts' estimates. "Based on the soft start to the year, the adjustments we are making to be more competitive and higher cost due to tariff, we are planning the year more conservatively," Chief Executive Michelle Gass said. In the first quarter, Kohl's suffered from a prolonged winter that led to higher sales of discounted warm clothes over its new spring collection.
Simeon Siegel, managing director at Nomura Instinet, Liz Dunn, founder and CEO of Pro4ma, and Steve Grasso of Stuart Frankel join CNBC's "Closing Bell" team to break down how retail stocks are trading amid escalating trade tensions with China.