Kohl's Q3 Misses The Mark: Weak Sales And CEO Shake-Up Send Shares Down
Kohl's Q3 Misses The Mark: Weak Sales And CEO Shake-Up Send Shares Down
Selling, general and administrative expenses decreased 5.1% Y/Y to $1.3 billion, and SG&A expenses margin stood at 34.8%, an increase of 125 basis points Y/Y.Kohl's Corp (NYSE:KSS) shares are trading lower after the company reported third-quarter earnings.
柯爾百貨（紐交所：KSS）股票在公司公佈第三季度 earnings 後下跌。
The company reported a net sales decline of 8.8% year-over-year (Y/Y) to $3.507 billion, missing the consensus of $3.638 billion. Comparable sales for the quarter decreased 9.3%. Total revenue stood at $3.710 billion.
公司報告的淨銷售額同比下降8.8%，至35.07億，未達到市場預期的36.38億。該季度的可比銷售額下降了9.3%。總營業收入爲37.1億。
Gross margin for the quarter expanded by 20 basis points to 39.1%. Operating income for the quarter was $98 million versus $157 million last year. The operating margin contracted 120 basis points Y/Y to 2.7%.
該季度的毛利率擴大了20個點子，達到39.1%。該季度的營業收入爲9800萬，而去年爲15700萬。營業利潤率同比收縮了120個點子，降至2.7%。
Selling, general and administrative expenses decreased 5.1% Y/Y to $1.3 billion, and SG&A expenses margin stood at 34.8%, an increase of 125 basis points Y/Y.
銷售、一般和行政費用同比下降5.1%，爲13億，SG&A費用率爲34.8%，同比增加125個點子。
EPS was 20 cents, missing the analyst consensus estimate of 28 cents.
每股收益爲20美分，未達到分析師共識預期的28美分。
Inventory at the end of the quarter was $4.1 billion, down 3% Y/Y. Kohl's held $174 million in cash and equivalents as of November 2. Operating cash flow was a use of $195 million.
截至季度末，庫存爲41億，同比下降3%。截至11月2日，柯爾百貨持有現金及等價物爲17400萬。經營現金流爲19500萬的使用。
On November 13, 2024, Kohl's Board of Directors declared a quarterly cash dividend of 50 cents per share, payable on December 24, to shareholders of record as of December 11.
2024年11月13日，柯爾百貨董事會宣佈每股現金季度分紅50美分，將於12月24日支付，記錄日期爲12月11日的股東。
Yesterday, Kohl's disclosed that CEO Tom Kingsbury will step down on January 15, 2025.
昨天，柯爾百貨披露CEO湯姆·金斯伯裏將於2025年1月15日辭職。
He will remain in an advisory role to the new CEO and stay on the Board of Directors until his retirement in May 2025, after which the Board size will be reduced by one. The Board has appointed Ashley Buchanan as CEO, effective January 15, 2025.
他將在新任首席執行官身邊擔任顧問角色，並在董事會任職，直到2025年5月退休，屆時董事會人數將減少一名。董事會已任命阿什利·布坎南爲首席執行官，任命將於2025年1月15日生效。
Outlook: Kohl's revised the outlook for FY24 EPS to $1.20 – $1.50 (from $1.75 – $2.25) versus the Street view of $1.80.
展望：柯爾百貨將2024財年的每股收益預期修訂爲1.20美元至1.50美元（之前爲1.75美元至2.25美元），而市場預期爲1.80美元。
Kohl's revised FY24 sales growth outlook to a decline of (7)% – (8)% from (4%) – (6%). The company now sees FY24 comparable sales decline of (6%) to (7%) vs. (3%) to (5%) prior.
柯爾百貨將2024財年的銷售增長預期修訂爲下降7%至8%（之前爲下降4%至6%）。該公司現在預計2024財年同店銷售將下降6%至7%，而之前爲下降3%至5%。
Kohl's now projects an FY24 operating margin of 3.0% to 3.2% (previous 3.4% – 3.8%) and continues to see capital expenditures of about $500 million, including expansion of its Sephora partnership and other store-related investments.
柯爾百貨現在預計2024財年的營業利潤率爲3.0%至3.2%（之前爲3.4%至3.8%），並繼續看到大約50000萬美元的資本支出，包括與Sephora的合作擴大和其他與商店相關的投資。
Tom Kingsbury, Kohl's chief executive officer, said, "Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses. Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies "R" Us shops in 200 of our stores, these were unable to offset the declines in our core business."
柯爾百貨首席執行官湯姆·金斯伯裏表示："我們的第三季度業績未達到預期，因爲我們的服裝和鞋類業務銷售疲軟。儘管我們在包括Sephora、家居裝飾、禮品和衝動消費等關鍵增長領域的整體表現強勁，並且還受益於在200家商店開設「寶貝商店」，但這些未能抵消我們核心業務的下降。"
"We are not satisfied with our performance in 2024 and are taking aggressive action to reverse the sales declines. We must execute at a higher level and ensure we are putting the customer first in everything we do."
"我們對2024年的業績不滿意，正在採取積極行動扭轉銷售下降的局面。我們必須提升執行力，確保在我們所做的一切中把客戶放在首位。"
"We are approaching our financial outlook for the year more conservatively given the third quarter underperformance and our expectation for a highly competitive holiday season."
"鑑於第三季度的業績不佳以及我們對競爭激烈的假日季節的預期，我們對本年度的財務展望更加謹慎。"
Investors can gain exposure to the stock via WBI Power Factor High Dividend ETF (NYSE:WBIY) and Invesco S&P SmallCap Value with Momentum ETF (NYSE:XSVM).
投資者可以通過WBI Power Factor High Dividend ETF（紐交所代碼：WBIY）和Invesco S&P SmallCap Value with Momentum ETF（紐交所代碼：XSVM）獲得對該股票的投資機會。
Price Action: KSS shares are down 175% at $15.23 premarket at the last check Tuesday.
價格動態：柯爾百貨的股票在週二的最後檢查中，盤前下跌了175%，價格爲15.23美元。
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Photo: Sundry Photos via Shutterstock.
照片：Sundry Photos通過shutterstock。
譯文內容由第三人軟體翻譯。
