Business
Kohl's Reports First Quarter Fiscal 2026 Financial Results
Kohl's Reports First Quarter Fiscal 2026 Financial
About this update from Kohl's Corporation
[{"type":"text","content":"\nKohl’s Corporation (NYSE: KSS) today reported results for the first quarter ended May 2, 2026.\n\nNet sales decreased 1.7% and comparable sales decreased 1.1%\nGross margin increased 4 basis points\nDiluted loss per share of ($0.13)\nAffirms full year 2026 financial outlook\nMichael Bender, Kohl’s Chief Executive Officer, said “We are pleased with our start to 2026. Our key initiatives continue to drive progressive improvements to the business, resulting in our best comparable sales performance in over four years. In addition, we continue to manage the business with great discipline leading to strong expense management, cleaner inventories, and an improved balance sheet.”\n\n\n“Moving forward, we remain committed to delivering more value and a better experience to our customers. I would like to extend my sincere gratitude to all of our Kohl’s associates for their dedication and determination to execute against our initiatives,” Bender continued.\n\nFirst Quarter 2026 Results\nComparisons refer to the 13-week period ended May 2, 2026 versus the 13-week period ended May 3, 2025Net sales decreased 1.7% year-over-year, to $3 billion, with comparable sales down 1.1%.\n\nGross margin as a percentage of net sales was 39.9%, an increase of 4 basis points year-over-year.\n\nSelling, general & administrative (SG&A) expenses decreased 1.6% year-over-year, to $1.1 billion. As a percentage of total revenue, SG&A expenses were 36.2%, an increase of 15 basis points year-over-year.\n\nOperating income was $46 million compared to $60 million in the prior year. As a percentage of total revenue, operating income was 1.4%, a decrease of 41 basis points year-over-year.\n\nNet loss was $14 million, or ($0.13) per diluted share. This compares to net loss of $15 million, or ($0.13) per diluted share in the prior year.\n\nInventory was $2.9 billion, a decrease of 8% year-over-year.\n\nOperating cash flow was a use of $74 million.\n\nBorrowings under revolving credit facility were $0, a decrease of $545 million year-over-year.\n\n2026 Financial and Capital Allocation Outlook\nFor the full year 2026, the Company continues to expect the following:\n\nNet sales and Comparable sales: A decrease of (2%) to flat\n\nAdjusted Operating margin: In the range of 2.8% to 3.4% (a)\nAdjusted Diluted EPS: In the range of $1.00 to $1.60 (a)\nCapital Expend...