Kohl’s reported results for the quarter ended April, where earnings fell short of analysts’ expectations, even as revenue topped estimates.
The department store chain’s earnings per share: for the quarter came in at 11 cents, much lower than the 70 cents expected by analysts polled by analysts polled by Refinitiv.
The company, like several other retailers, has faced challenges due to the economy’s 40-year high inflation rates, with logistics and staffing costs putting pressure on margins.
Revenue decreased to $3.72 billion from $3.89 billion a year earlier. However, the figure still surpassed analysts’ estimates of $3.68 billion.
Kohl’s now projects its fiscal 2022 adjusted earnings per share in the range of $6.45 to $6.85, compared with its prior outlook of $7.00 to $7.50. The company expects net sales to be flat to up 1% from year-ago levels, vs. prior guidance of up 2% to 3%.