Kohl's Lifts 2018 Estimates
In the midst of the retail wreck today, lets not forget that Kohl's (KSS) raised guidance for the year. The retailer now expects to earn $5.53 per share. The stock is down an incredible 9% to $63 on the guide up.
- Kohl's now expects FY18 EPS of $5.50 to $5.55 vs. $5.35 to $5.55 prior and $5.51 consensus.
The market is spooked because Macy's (M) talked about a surprise slowdown in the middle of December. Remember that the stock market was in panic mode due to the Fed raising interest rates and the China trade war.
Investors need to relax here. The retailer stocks are far too cheap now. Macy's only trades at 6x EPS estimates and now yields nearly 6%.
Disclosure: Long KSS, M. Please review the disclaimer page for more details.