Today’s Research Reports on Stocks to Watch: Kohl’s Corporation and Macy
Several department store stocks saw losses on Thursday after several earnings reports were released. Among the stocks to see losses were Dillard’s, Inc., Macy’s Inc., Kohl’s Corporation, and Sears Holdings Corp. Though Sears did not report any earnings, the stock still saw losses of 6.5%. Macy’s and Kohl’s kicked off the earnings season for retailers and despite mostly beating estimates were trading in the red. The sentiment towards retail stocks as a whole could have resulted in the losses Macy’s and Kohl’s incurred.
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Kohl’s Corporation shares closed down 5.80% on Thursday with nearly 20 million shares traded. The stock was one of the biggest decliners on the NYSE yesterday despite beating in its latest 2Q report. The retailer reported a fiscal second quarter profit of $208 million, or $1.24 per share. This was higher than the $1.19 per share that analysts had expected. Revenue of $4.14 billion was also in-line with estimates as analysts had been waiting for revenue of $4.12 billion. CEO Kevin Mansell noted that the company’s active business saw an increase in the double digits year over year across shoes and clothes. Kohl’s has added Under Armour Inc., as well as Nike and Adidas to its items for sale. Kohl’s has plans to open four new 35,000-square-foot stores in October. Since the beginning of 2017, shares of Kohl’s have fallen 20%.
Access RDI’s Kohl’s Corporation Research Report at:
Macy’s, Inc. shares closed in the red, down 10.25% on Thursday, with nearly 40 million shares traded. Much like Kohl’s, Macy’s reported positive second quarter financial results but still sank into the red. The Cincinnati-based department store chain reported net income of 38 cents per share. Earnings were 48 cents after being adjusted for non-recurring costs. This was ahead of the average estimate from analysts of 45 cents. Revenue was $5.55 billion which also beat Wall Street’s estimate of $5.5 billion. The stock has declined 42% since the start of the year.
Access RDI’s Macy’s, Inc. Research Report at:
Our Actionable Research on Kohl’s Corporation (NYSE: KSS) and Macy’s, Inc. (NYSE: M) can be downloaded free of charge at Research Driven Investing.
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