revenue growth
-1.5–0 pct
FY 2026
official guidance
KOHL'S CORPORATION
Last · NYSE$21.15+0.05 (+0.24%)close · yahoo · 12h ago
Market cap$2.40B113.4M sh
P/E · TTM9.1fwd 13.5 · eps 2.33
Beta1.35vs S&P 500
Div yield2.37%annual · TTM
52w range
$11.38$25.22
Volume3.8Msession
| Revenue | $15.4B |
|---|---|
| Operating income | $592.0M |
| Net income | $270.0M |
| Free cash flow | $1.0B |
| Operating margin | 3.8% |
| Net margin | 1.7% |
| Return on equity | 6.5% |
| Period | TTM 2026-08-01 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Underlying sales remain negative and the EPS upgrade is substantially supported by a nonrecurring tariff benefit.
Hold: Kohl’s showed incremental operational improvement, but the investment case remains dependent on a fragile consumer and a $0.65-per-share tariff-refund benefit.
Q2 comp sales fell 0.9% and operating income declined to $261 million, while FY2026 guidance calls for comps down 1.5% to flat, adjusted operating margin of 3.5%-4.0%, and adjusted EPS of $1.80-$2.40. Positive proprietary-brand, card, marketplace, cash-flow, and inventory trends are encouraging, but Sephora fell 4% and underlying margin improvement was only about 5 basis points excluding tariffs.
Themes
- Retail Comp Sales
- Tariff Refunds
- Proprietary Brands
- Sephora
- Kohls Card
- Marketplace
Near term
Back-to-school and holiday execution, particularly in footwear, denim, home decor, small electrics, toys, jewelry, and proprietary brands.
Sephora sales are expected to remain on the same weak path through the back half until new brands scale and distribution headwinds cycle.
Promotional intensity, media spending, and store payroll investments could determine whether the company reaches the high end of its flat-to-down-2% back-half comp framework.
Cash deployment between the planned $100 million 2026 buyback and opportunistic debt repurchases.
Longer term
Proprietary brands and Kohl’s Card engagement could restore customer frequency and improve credit revenue if recent positive trends persist.
Marketplace sales rose 88%, but the platform remains early-stage and its ability to create profitable incremental demand is unproven.
Store-based omnichannel capabilities, including pickup, DoorDash, Instacart, and digital automation, could improve convenience and productivity.
The structural Sephora risk is that expanded distribution of major beauty brands may permanently reduce Kohl’s exclusivity; management is relying on newer brands and gifting to offset the pressure.
Balance-sheet improvement is meaningful: debt is at its lowest level since 2007, with expected operating cash flow of roughly $950 million to $1 billion.
Red flags
The $0.65 tariff-refund contribution is included in the $1.80-$2.40 EPS outlook and is not expected to recur; excluding tariffs, Q2 gross-margin improvement was only approximately 5 basis points.
Management did not quantify the sales impact of women's proprietary-brand inventory shortages, making it difficult to separate execution problems from underlying demand.
Traffic and average transaction value were both slightly down, while customers are trading toward lower-priced proprietary goods; unit growth was not sufficient to fully offset lower prices.
Sephora declined 4%, and management explicitly expects the softness to persist through the remainder of the year.
The company is reinvesting in price, media, and store payroll to defend demand, which may limit operating leverage even if comps improve.
Agentic-commerce results are based on a small adoption base and are early signals rather than material financial contribution.
Forward outlook
operating margin
3.5–4 pct
FY 2026
official guidance
adjusted eps
1.8–2.4 $per share
FY 2026
official guidance
revenue
—
FY 2026
management framework
ebitda
—
FY 2026
management framework
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2023-03-16
- Cash Runway Low
Red flags
- Cash Runway Low — Cash runway ~0.3 years
Upcoming earnings
1:30 PM UTC+1
Period
Oct 2026
Est. EPS
$0.01
Est. revenue
3.4B
Earnings transcripts
- Motley Fool
Kohl's (KSS) Q2 2027 Earnings Call Transcript
KOHL'S CORPORATION
- Issuer webcast
Q2 2026 webcast
KOHL'S CORPORATION
- Issuer webcast
Q1 2026 webcast
KOHL'S CORPORATION
- Issuer webcast
Q4 2025 webcast
KOHL'S CORPORATION
- Issuer webcast
Q3 2025 webcast
KOHL'S CORPORATION
- Issuer webcast
Q2 2025 webcast
KOHL'S CORPORATION