Kohl’s (NYSE:KSS) Fiscal Q1 Earnings Rise While Sales Drop; Reiterates Fiscal 2023 Outlook

Kohl’s (NYSE:KSS) reported fiscal Q1 earnings  of $0.13 per diluted share, up from $0.11 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.41 per share, if comparable.

Net sales for the quarter ended April 29 were $3.36 billion, down from $3.47 billion a year earlier. Analysts surveyed by Capital IQ expected $3.37 billion.

The department store chain operator’s fiscal Q1 comparable sales fell 4.3%. Analysts polled by Capital IQ expected a year-over-year decrease of 4.2%.

Kohl’s said it continues to expect fiscal 2023 earnings, excluding non-recurring charges, of $2.10 to $2.70 per share. Analysts polled by Capital IQ are expecting normalized earnings of $2.32 per share.

Net sales for the current fiscal year are still projected to fall 2% to 4%, the company said.

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