Kohl’s on Tuesday reported fiscal fourth-quarter sales that came in below analysts’ estimates for the key holiday quarter, but investors lifted shares as the company issued an upbeat revenue outlook for 2022 despite ongoing supply chain obstacles that roiled retailers and shrunk inventories.
Kohl’s per-share earnings also beat estimates, thanks to the company’s strategy to bring in new customers and sell more goods at full price points. Despite lingering supply chain headwinds and other pressures from inflation and labor costs, CEO Michelle Gass said Kohl’s achieved an operating margin of 8.6% — two years ahead of schedule.
For fiscal 2022, Kohl’s is calling for net sales to rise 2% to 3%. Analysts had been looking for year-over-year growth of 2.2%, according to Refinitiv.
Source: CNBC
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