Piper Jaffray Reports Kohl's FQ1 Results In Line With Guidance

According to Piper Jaffray, Kohl's KSS FQ1 results are in line with guidance. Piper Jaffray said that Kohl's reported FQ1 EPS of $0.73 versus the estimate of $0.72 and consensus of $0.73. “Results were in line with management's most recent guidance of "towards the high end" of the $0.68-$0.73 range. While pre-released sales results were below our initial expectations, FQ1 results reflect flat gross margins and 10bps of SG&A deleverage offset by $445M of share repurchases. In addition, D&A benefited by about $0.03/share. Looking to FQ2, management expects EPS of $0.96-$1.02 compared to consensus of $1.00.” Kohl's closed yesterday at $53.61.