Home / Knowledge / News / Apparel/Garments / Kohl's posts better than expected 2014 results
Kohl's posts better than expected 2014 results
02
Mar '15
On back of improved comparable store sales, US based retailer and NYSE listed, Kohl’s Corporation posted better than expected results in the fourth fiscal quarter ended January 31, 2015.

In the fourth quarter of fiscal 2015, driven by higher sales and wise management of expenses and inventories, Kohl’s reported earnings of $1.83 per share, expanding 17 per cent from the prior-year quarter.

“Net sales for the reporting period rose 3.9 per cent year on year to $6.337 billion, primarily from a hike in comparable store sales,” the retailer said in a press release.

Comparable store sales grew 3.7 per cent in the fourth quarter of fiscal 2015 from higher transactions per store and an increase in average transaction value.

Kohl’s said this was, in fact, the first positive comparable store sales increase after persistent declines for more than a year.

According to the retailer, Kohl’s continuous efforts to improve its base business and its focus on the strategic initiative ‘Greatness Agenda’ turned around results in the quarter.

However, gross margin contracted 10 basis points to 33.9 per cent from the year ago quarter, while operating margin expanded 30 bps to 10.3 per cent.

For the full fiscal 2015, Kohl’s reported earnings of $4.24 per share, up 5 per cent from the prior fiscal, while sales at $19.02 billion were almost flat with the previous fiscal.

As of January 31, 2015, the retailer held $1.41 billion of cash and cash equivalents compared with $631 million as of November 1, 2014.

Kohl’s ended the quarter with long-term debt of $2.79 billion, flat from the fourth quarter of fiscal 2014.

The Kohl's board announced a 15 per cent increase in quarterly dividend to 45 cents per share, which will be paid on March 25 to shareholders as of record on March 11, 2015.

For the next fiscal, Kohl’s expects earnings per share in the range of $4.40–$4.60, higher than the prior-year earnings of $4.24.

The retailer also forecast sales to rise between 1.8-2.8 per cent driven by comparable stores sales growth of 1.5–2.5 per cent.

In fiscal 2015, Kohl’s operated 1,162 stores in 49 states and it opened seven stores, relocated two existing stores and closed three stores in the fiscal. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search