Kohl’s Corporation (NYSE:KSS) has released its earnings report for the fourth quarter of 2016.
Earnings per share reported by Kohl’s Corporation for the fourth quarter of 2016 was $1.44. This is a decline from its earnings per share of $1.58 that was reported during the fourth quarter of 2015. However, it did come in above analysts’ earnings per share estimate of $1.33 for the quarter.
During the fourth quarter of the year, Kohl’s Corporation reported revenue of $6.21 billion. This is a decrease over the revenue of $6.39 billion that it reported during the same time last year. The company’s revenue for the quarter was also just below Wall Street’s estimate of $6.22 billion.
“Sales results were weak for the quarter in total, driven by declines in brick and mortar traffic, and offset somewhat by strength in online demand,” Kevin Mansell, Chairman, President and CEO of Kohl’s Corporation, said in a statement.
Kohl’s Corporation reported net income of $252 million in the fourth quarter of 2016. The department store operator reported net income of $296 in the same period of the year prior.
Kohl’s Corporation has also declared a quarterly dividend to its shareholders. The company will be paying a dividend of 55 cents per share to investors on March 22, 2017. The dividend will be for investors on record as of march 8, 2017 and is a 10% increase over the company’s previous quarterly dividend.
Kohl’s Corporation also released its initial guidance for 2017 in its most recent earnings report. KSS is expecting to see earnings per share between $3.50 to $3.80 for the year. Wall Street is expecting the company to report earnings per share of $3.72 in 2017.
KSS stock was up 1% as of Thursday morning, but is down 14% year-to-date.