Kohl’s beats earnings expectations though comp sales miss

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Kohl’s Corp. reported a third-quarter net loss of $12 million, or 8 cents per share, after net income of $123 million, or 78 cents per share, last year. Adjusted EPS of a penny was well ahead of the FactSet consensus for a 43-cents-per-share loss. Revenue of $3.98 billion was down from $4.63 billion last year but ahead of the FactSet consensus for $3.88 billion. Comparable sales of 13.3% were below the FactSet consensus for an 11.7% drop. Kohl’s says it fully paid its revolver during the quarter and ended with $1.9 billion in cash. Kohl’s stock slipped 0.4% in Tuesday premarket trading and has fallen 48.7% for the year to date. The S&P 500 index has gained 12.3% for the period.
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