- Kohl’s Corp (NYSE:KSS) provided a long-term financial target update, expecting low-single digits percent sales growth and mid-to-high single digits percent EPS growth.
- The company aims to grow the Sephora business to $2 billion through an expanded store rollout to 850 stores.
- The company also plans to acquire new customers with Amazon.Com Inc (NASDAQ:AMZN) Amazon Returns.
- Kohl’s also seeks to enhance its portfolio. It plans to drive growth in Active and Casual categories, grow its dress business, improve Card Rewards earn to 7.5% every day, and introduce a co-branded credit card in 2023.
- Kohl’s expects to open 100 new smaller format stores in the next four years.
- The company also seeks to grow the digital business to $8 billion. The company plans to roll out self-serve buy online, pick up in-store to all stores in 2022.
- It sees an operating cash flow of more than $5.5 billion and about $2.5 billion of free cash flow during 2022-2024.
- As announced last week, the company increased its dividend by 100% and authorized a new $3 billion share repurchase program.
- Price Action: KSS shares are trading lower by 5.40% at $55.60 on the last check Monday.
