Q417 - Strong year end
Kohl's Q4 EPS was $1.99 (ex-tax) vs consensus $1.77 and guidance provided in January of $1.65 - $1.75. Q4 comps were a strong 6.3% (Holiday comp pre-announced at 6.9%), and gross margin came in +40bp YoY and 30bp above consensus. FY18 EPS guidance is set at $4.95 - $5.45 (consensus $4.78) with a flat to +2% comp (consensus 0.4%) and a 24-25% tax rate (consensus is based on a 28% tax rate). A strong end to the year, with all metrics looking strong.Kohl's operates department stores, a website (www.Kohls.com), FILA outlets, and Off-Aisle clearance centers. The company's Kohl's stores and website sell proprietary and national brand apparel, footwear, accessories, beauty and home products. The company's website includes merchandise that is available in its stores, as well as merchandise that is available only online. The company's portfolio includes private brands such as Apt. 9, Croft & Barrow, Jumping Beans, SO and Sonoma Goods for Life and exclusive brands that are developed and marketed through agreements with brands such as Food Network, LC Lauren Conrad, Elle and Simply Vera Vera Wang.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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