Kohl's reports better than expected Holiday quarter, raises dividend by 5 percent
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Commenting on the trading results, Michelle Gass, Kohl’s Chief Executive Officer, said in a statement: “While 2019 was a year in which our financial results did not meet our expectations, it was also a year of innovation and investment that further strengthened Kohl’s differentiation in the market. We are encouraged by the acceleration of traffic and new customer acquisition in our stores and online driven by the unprecedented level of new brands and partnerships we launched during the year.”
On February 26, 2020, Kohl’s board of directors declared a quarterly cash dividend on the Company’s common stock of 704 cents per share, a 5 percent increase over its prior dividend payable on April 1, 2020 to shareholders of record at the close of business on March 18, 2020.
The company expects earnings per diluted share of 4.20 dollars to 4.60 dollars for fiscal 2020 based on comparable sales change in the range of negative 1 percent to positive 1 percent and gross margin as a percentage of sales to decrease 10 to 20 basis points as compared to 2019.
Picture:Kohl's media gallery