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

Pic: IFC

Apparel/Garments | On 15th Apr 2021

IFC to support Haiti in revamping garment sector

IFC, a member of the World Bank Group, is supporting the garment...

Pic: Sorbis / Shutterstock.com

Textiles | On 15th Apr 2021

US textiles & apparel imports down 6.98% in Jan-Feb 2021

The import of textiles and apparel by the United States decreased by...

Pic: Shutterstock

E-commerce | On 15th Apr 2021

Vietnam companies get Amazon boost to turn into brands

The Vietnam Textile & Apparel Association (VITAS) and Amazon have...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Anupam Chakrabarty,

Anupam Chakrabarty

Headquartered in Finland, Helsinki, Lindström Group is a textile rental...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

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

Leave your Comments


April 2021

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


Advanced Search