Kohl's beats by $0.10, reports revs in-line; reaffirms FY17 EPS guidance; increases buyback to $2 bln :
- Reports Q3 (Oct) earnings of $0.80 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.70; revenues fell 2.3% year/year to $4.33 bln vs the $4.33 bln Capital IQ Consensus.
- Comps -1.7%, near ests of -1.5%.
- Co reaffirms guidance for FY17, sees EPS of $3.80-4.00, excluding non-recurring items, vs. $3.87 Capital IQ Consensus Estimate.
- "We are pleased to see continued improvement in our sales trends. Our back-to-school season was strong, followed by a soft September, and progressive improvement throughout October. We are encouraged by these trends as we enter the Holiday season. Our teams did an excellent job managing inventory. Expenses were also well-controlled as substantially all teams outperformed their plans."
- Kohl's Board of Directors also increased the Company's outstanding share purchase authorization under its existing share repurchase program to $2.0 billion.
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