Overview

• Kohl’s reported a $0.13 loss per share on $3.23 billion in first-quarter sales, outperforming analysts’ expectations for a $0.28 loss on $3.20 billion.
• Comparable store sales fell 3.9%, slightly better than the 4.0% decline forecast by analysts.
• CEO Ashley Buchanan was fired ‘for cause’ after less than four months when an internal probe found he steered company business to a vendor tied to a personal relationship.
• The retailer reaffirmed its full-year outlook for a 5%–7% sales decline and earnings per share between $0.10 and $0.60.
• Shares rose about 6% after the results as Kohl’s continues cost controls, inventory management and partnerships like Sephora to bolster growth.