In the the November/December holiday season, Kohl’s generated comparable store sales of 1.2%.
Based on the holiday sales results, Kohl’s raised its previously released financial guidance and now expects its 2018 diluted earnings per share to come in at $5.50 to $5.55. Prior diluted earnings per share guidance was $5.35 to $5.55. The guidance excludes the debt extinguishment charge of 19 cents per diluted share recorded in the first quarter and other non-recurring charges the company anticipates recording related to a voluntary debt redemption, as well as actions associated with operational initiatives.
“We are delighted with our 1.2% shifted comparable sales increase for the holiday period, which builds on the positive momentum we have achieved throughout the year,” said Michelle Gass, Kohl’s CEO. “The organization once again delivered a very strong holiday that topped last year’s exceptional holiday season. The strong performance we achieved this holiday reflects the compelling product offering, great marketing strategy and consistent execution in stores and online. We are particularly pleased with the positive transaction growth and the double-digit digital growth we experienced this holiday, as our customers continue to embrace the omnichannel investments we are making.”