Kohl’s is a sad store. It’s one of those places that you forget exists; and then once inside, you say to yourself ‘they have interesting stuff’, and then never visit again.
They are the Circuit City of clothing, an old Cramer favorite. The stock is at 7 years lows, off a staggering 50% from last year.
If you enjoy the content at iBankCoin, please follow us on TwitterReports Q1 (Apr) earnings of $0.31 per share, $0.06 worse than the Capital IQ Consensus of $0.37; revenues fell 3.7% year/year to $3.97 bln vs the $4.13 bln Capital IQ Consensus.
Comps -3.9% vs slightly positive estimates; gross margin -139 bps YoY to 35.5%.“First quarter sales were challenging. Despite the sales environment, we were able to manage our gross margin and inventory levels consistent with our expectations as we took the markdowns necessary to clear excess inventory. We managed our expenses effectively throughout the quarter as every area contributed to our savings versus our plan.”
Ha, “once inside, you say to yourself ‘they have interesting stuff’, and then never visit again.” I have est foot in there once, to buy a couple Dockers for a trip to Japan. Thought I should visit again to see more and haven’t been back.
But, I hardly ever buy clothes so, yea.