Kohl’s news today includes the dropping of KSS stock despite the company reporting an earnings beat for the third quarter of 2018.
Kohl’s (NYSE:KSS) earnings report for the third quarter of the year includes earnings per share of 98 cents. This is an increase over the company’s earnings per share of 70 cents from the same period of the year prior. It also beat out Wall Street’s earnings per share estimate of 96 cents for the quarter, but couldn’t keep KSS stock from dropping.
Today’s Kohl’s news also has the company reporting net income of $161 million for the third quarter of 2018. This is up from the company’s net income of $117 million reported in the third quarter of 2017.
Operating income reported by the company in this recent Kohl’s news release came in at $258 million. The retail company’s operating income reported during the same time last year was $257 million.
Kohl’s also reported revenue of $4.63 billion for the third quarter of the year. This is better than the company’s revenue of $4.57 billion from the third quarter of the previous year. It also comes in above analysts’ revenue estimate of $4.36 billion for the quarter, but was unable to save KSS stock today.
All of this Kohl’s news doesn’t explain why the company’s stock is falling today. It looks like the stock is being dragged down as investors sell off their shares of KSS stock. It also doesn’t help that other retailer stocks are experiencing similar sell off.
KSS stock was down 8% as of Tuesday morning, but is up 25% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.