Kohl's beats by $0.04, reports revs in-line; guides Q3 EPS below consensus; raises FY09 EPS in-line

Briefing.com

Posted: 2008-08-14 16:03:00

Reports Q2 (Jul) earnings of $0.77 per share, $0.04 better than the First Call consensus of $0.73; revenues rose 3.8% year/year to $3.73 bln vs the $3.75 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.51-0.56 vs. $0.57 consensus. Co issues raises guidance in-line for FY09, sees EPS of $3.02-3.18 vs. $3.07 consensus, up from $2.95-3.15. Co says, "Our second quarter results reflect strong inventory management and increased penetration of private and exclusive brands, resulting in improved gross margins, as well as effective expense control. We remain conservative in our sales expectations for the fall season and will manage our business accordingly. We are well positioned to chase business should the environment improve."