Kohl's Corp. (KSS) - Get Report tumbled 4.8% on Thursday despite lifting fiscal-year guidance after same-store sales for the November-to-December holiday period rose 1.2%, down from year-earlier growth of nearly 7%.
The retailer said in a press release Thursday that it expects fiscal-year earnings of $5.50 to $5.55 a share, compared with prior guidance of $5.35 to $5.55. Analysts surveyed by FactSet had called for Kohl's to post fiscal-year profit of $5.51 a share.
Kohl's noted how the guidance excludes a debt extinguishment charge of $42 million, or 19 cents a share, that was recorded in the first quarter of fiscal 2018.
"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, in a statement.
The CEO added that Kohl's saw "double-digit digital growth" during the holiday period.
In other retail news, Macy's Inc. (M) - Get Report was falling sharply after the retailer revised its fiscal 2018 sales and earnings guidance down from the guidance it provided in November.
Target said same-store sales for the two months ended in December rose 5.7%, well ahead of the 3.4% pace recorded in the same period last year. Target said full fiscal-year earnings should come in between $5.30 and $5.50 a share, compared to a Wall Street consensus of $5.39, with fourth-quarter comparable revenue rising 5%.