Kohl's Impressive Beat
Real Money Stock of the Day Kohl's (KSS) - Get Report posted stronger-than-expected fourth quarter earnings Tuesday, and said it would buy back as much as $500 million in shares this year, as the department store chain notched solid same store sales over the holiday period.
Kohl's said earnings for the three months ending on February 2 came in at $2.24 each, up nearly 20% from the same period last year and 6 cents ahead of the Street consensus forecast. Group sales, Kohl's said, fell 3.3% to $6.823 billion but were also ahead of analysts' estimates of $6.68 billion. Same store sales, Kohl's said, rose 1% from last year, well ahead of the 0.3% estimate compiled by Refinitiv.
And He's Out...
Under a settlement agreement, Schnatter will resign once he and the company identify a "mutually acceptable independent director." Schnatter owns about 30% of Papa John's shares.
Salesforce's Weaker Than Expected Guidance
Salesforce (CRM) - Get Report posted stronger-than-expected fourth-quarter earnings and raised its revenue guidance for the current financial year, but the cloud company issued near-term earnings guidance that was modestly weaker than analysts' forecasts.
Looking into 2019, Salesforce said it was raising its revenue forecast to a range of $15.95 billion to $16.05 billion and said it expects first-quarter revenue in the range of $3.67 billion to $3.68 billion, just shy of the $3.7 billion forecast. Non-GAAP earnings were forecast in the range of 60 cents to 61 cents a share, largely in-line with Wall Street estimates.