The Revenue And Profit Of Coles Department Store In The Third Quarter Exceeded Expectations

In the third quarter, American department store retailer Kohl's Corp Coles Department Store Benefited from the unexpected revenue and earnings data, as well as the cost decline, the company's share price soared nearly 8% before the session.

It is reported that Kohl's is a famous family oriented professional department store in the United States. Kohl's was founded by the Kohl family in Milwaukee in 1962, and has grown rapidly since then. Now, Kohl's stores cover 40 states in the United States, and the number of stores is increasing every year. Kohl's is mainly sold to young mothers with children. Most of its stores are located in urban areas where families live together shopping Convenience and value for money.

By the end of the third quarter of October 29, Kohl's Corp. Kors had recorded a net profit of $142 million after excluding one-time items, a decrease of 1% compared with $144 million in the same period of the previous year; Earnings per share recorded $0.80, up 7% from $0.75 a year earlier, far exceeding the average expectation of $0.67 by ten Zacks analysts. The Group's actual EPS in the third quarter was US $0.83, up 32% from US $0.63 in the same period last year, which was also far more than the US $0.70 expected by analysts of ThomsonReuters I/B/E/S, with a net profit of US $146 million, up 22% from US $120 million in the same period last year.

　　Kohl’sCorp. Kevin Mansell, chairman, CEO and president of Coles Department Store, said that the group's return to school season was strong, mild in September, and improved in October. He said that the performance of the third quarter was an encouragement for the upcoming holiday season, and he was satisfied with the cost reduction of the group.

The company previously said it would hire more than 69000 employees this holiday season, the same as last year. Recruitment positions cover more than 1100 stores of Coles Department Store in 49 states, as well as distribution centers and credit business Department. The recruitment process will be officially launched in August, and most posts will be recruited in mid November.

In the third quarter, Kohl's Corp.'s sales cost was $2.72 billion, down 2.3% from $2.784 billion a year earlier; The cost of sales in the first nine months was US $7.812 billion, 2.2% lower than US $7.99 billion in the same period last year.

In the third quarter, Kohl's Corp. Kors Department Store recorded a revenue of $4.327 billion, down 2.3% from € 4.427 billion a year earlier, far exceeding Zacks' expectation of $4.28 billion and slightly exceeding ThomsonReuters I/B/E/S analysts' expectation of $4.32 billion. In the same store sales period, it recorded a decline of 1.7%, up 1.0% year-on-year; The Group's cumulative sales in the first nine months were US $12.481 billion, a year-on-year decline of 2.6%, compared with US $12.817 billion in the same period of the previous year. The Group's same store sales in the first nine months fell by 2.6%, a year-on-year increase of 1.0%.

As of the end of the third quarter on October 29, Kohl's Corp. Kohl's Department Store operated 1155 Kohl's stores, 12 FILAOutlet stores and 3 Off/Aisle discount stores, while the group operated 1166 Kohl's stores in the same period last year.

　　Kohl’sCorp. Coles Department Store maintained its adjusted profit forecast for the whole year to be EPS 3.80-4.00 dollars, while the actual EPS forecast was 3.12-3.32 dollars.