US retailer Kohl's sales likely to rise by 2-3% in FY22

The net sales of Kohl's Corp, a US-based leading omni-channel retailer, are expected to increase 2-3 per cent in fiscal 2022 as compared to the prior year. Operating margin is likely to be in the range of 7.2-7.5 per cent. The company’s earnings per share is forecast to be in the range of $7.00 to $7.50 in fiscal 2022, excluding any non-recurring charges.

“In 2021, we delivered all-time record earnings per share, significantly ahead of our expectations. Our operating margin of 8.6 per cent exceeded our 2023 goal two years ahead of plan, a direct result of our efforts to restructure the business to be more profitable. We remain extremely confident in the future growth and cash flow generation of our business, and in 2022 will build on our momentum as we further scale key initiatives such as Sephora,” said Michelle Gass, Kohl’s chief executive officer.

Kohl’s board of directors approved a $3.0 billion share repurchase authorisation and the company plans to repurchase at least $1.0 billion in shares in 2022, of which $500 million is expected to be repurchased through open market transactions or an ASR programme executed in the second quarter of fiscal 2022.

“We continue to see a lot of value in our company. We are reinforcing our commitment to driving shareholder value by doubling our dividend and planning on repurchasing at least $1.0 billion in shares in 2022. We look forward to sharing more details on our strategy and key initiatives, as well as our financial and capital allocation plans at our investor day event on March 7, 2022,” said Gass.

 

The net sales of Kohl's Corp, a US-based leading omni-channel retailer, are expected to increase 2-3 per cent in fiscal 2022 as compared to the prior year. Operating margin is likely to be in the range of 7.2-7.5 per cent. The company's earnings per share is forecast to be in the range of $7.00 to $7.50 in fiscal 2022, excluding any non-recurring charges.#