Kohl’s Q1 Earnings Beat View, but Q2/2010 Forecasts Fall Short (KSS)

Filed in dividend, Gold Bullion prices, shares by on May 13, 2010 0 Comments

Department store operator Kohl’s Corporation ( KSS ) said Thursday that its first quarter profit jumped 45% from last year on higher sales, but its second quarter and full-year forecasts fell short of expectations. The Menomonee Falls, WI-based company reported first quarter net income of $199 million, or 64 cents per share, compared with $137 million, or 45 cents per share, in the year-ago period. On average, Wall Street analysts expected a smaller profit of 62 cents per share. Total net sales rose 11% from last year, to $4.04 billion, while same-store sales gained 7.4%. Looking ahead, the company forecast a second quarter profit of 70 to 75 cents per share, which would fall well short of analyst expectations for 88 cents. As for the full year, Kohl’s raised its 2010 outlook to a range of $3.57 to $3.75 per share, up from a prior forecast of $3.40 to $3.63. That would also miss analysts’ current $3.77 per-share estimate, however. Kohl’s shares fell 85 cents, or -1.5%, in premarket trading Thursday. The Bottom Line Shares of KSS are off the 52-week highs of $61 a share. The stock has technical support in the $50-$52 price area. If the shares can firm up, we see overhead resistance around the $61-$63 price levels. We do not currently rate this non-dividend paying stock, but we do follow the company closely. Kohl’s Corporation ( KSS ) does not currently pay a dividend. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Kohl’s Q1 Earnings Beat View, but Q2/2010 Forecasts Fall Short (KSS)

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