Kohl's Corp

KSS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Kohl's Earnings: Horrible Results and CEO Change Create Uncertainty, but Valuation Is Very Low

David Swartz

Nov 26, 2024

No-moat Kohl’s shares plunged by a midteens percentage in Nov. 26 trading after the company announced abysmal third-quarter results and a leadership change. The company is entering the critical holiday shopping period with little momentum and slashed its full-year 2024 earnings per share guidance to $1.20-$1.50 from $1.75-$2.25. We expect to lower our $1.90 EPS forecast to within the new range and reduce our $48 fair value estimate by a high-single-digit rate. Even so, we regard the shares as very undervalued, given Kohl's assets and prospects for improved cash flow.

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Kohl's Corp

Kohl's Earnings: Horrible Results and CEO Change Create Uncertainty, but Valuation Is Very Low

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