Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...

In this articleKSSNKEAn exterior view of the Kohl's store at the Paxton Town Centre near Harrisburg. A customer walks with a Nike shopping bag.Paul Weaver | SOPA Images | Emily Elconin | Bloomberg | Getty ImagesNike and Kohl's may not be winning on Wall Street, but a wide set of consumers still consider them to be the best in their categories, according to a consumer sentiment survey released Thursday. The Consumer Sentiment Index from consulting firm AlixPartners asked 9,000 fashion shoppers from Gen Z to ...

We are currently offering a free two-week trial to Distressed Value Investing . Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Kohl's Corporation (NYSE: KSS ) has had a challenging first half of 2024. Kohl's reported -4.8% comparable store sales growth during the first half of the year, far below its initial full-year guidance of +0% to +2% ...

As the holiday season approaches, Kohl's Corporation (KSS) is rolling out a solid strategy to stay competitive with other retailers. The company's holiday season strategy is focused on delivering affordable gifts, an enhanced shopping experience with fresh in-store displays and compelling value throughout the season. Customers can expect fresh deals every week in November and December. KSS Offers Greater Gift Options at Unbeatable Prices Kohl's has nearly doubled its gift offerings this year, solidifying it ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics a ...

文章核心观点 - 公司近5年销售增长乏力,难以保持对股票的乐观态度 [1] - 公司二季度和上半年业绩表现不佳,销售额和同店销售均下降 [2] - 公司全年销售和利润指引不乐观,预计销售额和同店销售将继续下降 [3] - 公司估值较低,但这主要是由于业绩持续疲弱所致,未来难以实现价值的释放 [3][4] 根据相关目录分别进行总结 公司业绩表现 - 过去5年公司销售增长乏力,难以达到2020年近200亿美元的收入水平 [1] - 二季度同店销售下降5.1%,销售额同比下降4.2%至35亿美元 [2] - 上半年销售额同比下降4.7%,同店销售下降4.8% [2] - 公司预计全年销售额将下降4%-6%,同店销售下降3%-5% [3] 公司盈利情况 - 二季度净利润增加至6600万美元,每股摊薄收益同比增长13.4% [2] - 上半年每股摊薄收益为0.35美元,去年同期为0.65美元 [2] - 公司预计全年每股收益将在1.75-2.25美元之间 [3] 公司估值分析 - 按照公司指引,公司目前市盈率仅为8.56倍,显得估值较低 [3] - 但这主要是由于公司业绩持续疲弱所致,未来难以实现价值的释放 [3][4] - 分析师平均目标价仅19.88美元,较当前股价没有太多上行空间 [4]

文章核心观点 - 公司面临经济衰退和业绩下滑的风险,但短线存在大涨的可能性 [1][15][24] - 公司估值处于历史低位,具有较高的投资价值 [9][10][11][12][13][14] - 公司正在采取多项措施提升业绩,如加强库存管理、优化客户体验、简化经营策略等 [4][5][6][7] 公司概况 - 公司拥有10年投资银行从业经验的资深研究分析师,专注于行业和公司研究 [1] - 公司是一家大型零售连锁企业,在全国范围内拥有便利的门店网络 [4] - 公司与Sephora等知名品牌合作,在美妆等细分领域取得了不错的成绩 [6] - 公司正在拓展家居装饰、宠物用品等新兴品类,以提升销售 [7] - 公司正在通过偿还债务等方式,不断优化财务结构 [8] 短期投资机会 - 公司股价大幅低估,估值指标处于历史低位 [9][10][11][12][13][14] - 公司面临大量做空头寸,一旦业绩有所好转,可能引发大规模的"空头挤压" [15][16][17][18][19][20][21] - 做空成本较高,可能促使空头提前平仓 [22][23] 风险提示 - 经济衰退可能对公司业绩造成不利影响 [24][25] - 利息费用上升也可能对公司利润产生一定压力 [25]

财务表现 - 第二季度净销售额下降4.2%至35.25亿美元，同店销售下降5.1%[34] - 毛利率为39.6%，同比增加59个基点[44] - 销售、一般及管理费用(SG&A)下降4.2%至12.5亿美元，占总收入的33.5%，同比下降1个基点[46,48] - 营业利润为1.66亿美元，占总收入的4.4%，同比增加26个基点[34] - 净利润为6600万美元，每股摊薄收益0.59美元[34] - 库存下降9%至32亿美元[34] 2024年财年展望 - 2024年全年预计净销售额下降4%至6%，同店销售下降3%至5%，营业利润率为3.4%至3.8%，每股摊薄收益1.75美元至2.25美元[37] - 2024年资本支出约5亿美元，包括Sephora合作的扩张和其他门店相关投资[37] 经营管理 - 公司正积极采取措施应对信用卡逾期费用监管变化的潜在影响[43] - 公司上半年营业现金流增加19百万美元，主要由于存货管理导致收货下降7%以及应付账款增加[58] - 公司上半年资本支出减少98百万美元，主要由于开设Sephora店铺和其他投资减少，符合2024财年资本支出计划[59] - 公司上半年完成了9.5%票面利率113百万美元债券的提前赎回[62] - 公司上半年未进行任何股票回购，计划在本年度不进行股票回购[63] - 公司上半年派发现金股利每股1美元，总额111百万美元[63] - 公司流动资本和存货水平通常在秋季达到高峰，在11月和12月的节日销售旺季达到最高[64] - 公司于2024年6月完成了9.5%票面利率113百万美元债券的提前赎回[69] - 公司截至2024年8月3日一直遵守资产抵押循环信贷额度的所有契约条款[68] - 公司2024年资本支出计划约为5亿美元，包括350条冲动排队线、140家小型Sephora店铺开设、200家Babies "R" Us店铺开业以及6家新店开业[59,60] - 公司2024年上半年的有效税率为3.4%，低于2023年同期的18.8%，主要由于税收优惠项目的影响更大[51]

Lokibaho Investment Summary My previous investment thought on Kohl's Corporation (NYSE:KSS) (published on 3rd June 2024) was a sell rating because of the poor sales trend and the uncertain macro environment. Since my coverage, the stock has gone down by ~17%, pretty much in line with my expectation for a 20% decline. I still think the business fundamentals are being challenged in the near term, with little chance that KSS can meet its FY24 SSS growth guidance. However, because the valuation has already been ...

Key Takeaways Kohl's beat profit estimates for the second quarter, despite lower sales, as the discount department store operator cut costs. Kohl's warned about a challenging consumer environment but raised its full-year outlook for earnings per share. Kohl's shares edged higher Wednesday, but they've lost nearly a third of their value this year. Kohl's (KSS) shares rose Wednesday as cost reduction helped the retailer beat profit forecasts despite a drop in sales. Kohl's reported second-quarter earnings per ...