Kohl's Earnings Call Transcripts
Fiscal Year 2027
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Q1 2026 delivered the best comp sales in four years, driven by proprietary brands and digital growth, despite a 1.1% comp sales decline and a net loss of $14 million. Guidance for FY2026 is reaffirmed, with continued focus on value, inventory discipline, and omnichannel enhancements.
Fiscal Year 2026
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Leadership transition and board alignment were highlighted, with all shareholder proposals approved. Strategic priorities include product assortment, value leadership, and digital modernization, while financial discipline and tariff mitigation supported margin expansion.
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Q4 and full-year sales declined, but strong inventory and expense management drove EPS growth and improved cash flow. Proprietary brands, digital, and value initiatives are central to the 2026 strategy, with guidance for flat to slightly negative sales and continued margin discipline.
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Q3 results exceeded expectations with improved comps, digital growth, and strong proprietary brand performance. Gross margin expanded, SG&A declined, and inventory was well managed. Guidance reflects ongoing macro pressures, but momentum in key initiatives and digital investments positions the company for continued progress.
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Q2 results exceeded expectations with improved sales trends, especially in proprietary brands and digital. Gross margin expanded, inventory declined, and guidance was raised despite ongoing macroeconomic and tariff-related pressures.
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First quarter results exceeded expectations, with net sales down 4.1% and gross margin up 37 bps year-over-year. Turnaround initiatives are showing early progress, and full-year guidance is maintained despite ongoing macroeconomic and tariff uncertainties.
Fiscal Year 2025
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Q4 and full-year sales declined, with digital underperformance offset by strong growth in Sephora and proprietary brands. 2025 is set as a transition year, with continued cost controls, a reduced dividend, and a focus on rebuilding customer loyalty and operational efficiency.
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Q3 sales and earnings fell short, with net sales down 8.8% and comparable sales down 9.3% year-over-year. Aggressive actions are underway to rebalance inventory, boost private brands, and recover lost customers, while guidance for FY2024 was lowered amid ongoing macro and competitive pressures.
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Q2 net sales declined 4.2% and comparable sales fell 5.1%, but earnings rose 13% due to margin expansion and cost discipline. Growth in Sephora, home decor, gifting, and impulse offset core softness, while guidance was lowered for sales but raised for margins and EPS.
Fiscal Year 2024
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Sephora and Babies "R" Us initiatives are attracting younger customers, while merchandising and operational changes are driving improved inventory management and value delivery. Growth is expected from home, gifting, impulse, and baby categories, with digital and store channels aligning more closely.