Kohl's FY18 comparable sales improve by 1.7 percent

For the year ended February 2, 2019, Kohl’s reported comparable sales increase of 1.7 percent, while fourth quarter comparable sales increased 1 percent. Annual diluted earnings per share reached 4.84 dollars compared to 5.12 dollars in the previous year, while in the fourth quarter, the company’s diluted earnings per share were 1.62 dollars compared to 2.81 dollars in 2017. Adjusted diluted earnings per share in 2018 were 5.60 dollars, which Kohl’s said, exceeded the high end of guidance by 5 cents per share.

"The positive momentum we've had all year continued as we achieved a 1 percent comp sales increase for the fourth quarter, resulting in a 1.7 percent increase for the year," said Michelle Gass, Kohl's CEO in a statement, adding, "Building on the exceptional holiday we had in 2017, we've now achieved a 7 percent increase in the fourth quarter on a two-year basis."

Total revenues of 20,229 million dollars for 2018 were down 0.7 percent and for the fourth quarter, revenues declined 3.3 percent to 6,823 million dollars. Kohl's ended the fiscal year with 1,159 Kohl's stores in 49 states. During 2018, the company opened one Kohl's store and relocated two stores.

Kohl’s reveals outlook for FY19

The company expects earnings per diluted share of 5.80 dollars to 6.15 dollars for fiscal 2019. The company expects comparable sales change of 0 percent to 2 percent and gross margin as a percentage of sales increase up to 10 basis points over 2018.

On February 27, 2019, Kohl's board of directors declared a quarterly cash dividend of 67 cents per share, a 10 percent increase over its prior dividend payable April 3, 2019 to shareholders of record at the close of business on March 20, 2019.

Picture:Facebook/Kohl's