Kohl's 3Q In-Line With Pre-Announcement

Sterne Agee has published a research report on Kohl's Corporation (NYSE: KSS) after the company reported 3Q results that were in-line with last week's pre-announcement.

In the report, Sterne Agee writes "let point. Bulletof $0.63, in line with FC & recently issued KSS printed EPS summary point Bullet point. $0.62-$0.63. SSS of 1.8% were released last week,
guidance of Bullet summary point so key variables were margin related. GPM of 38.45% increased ~45 bps y/y reflecting continued penetration of private label goods and residual impact of inventory systems. SG&A of $1,113M came in below our estimate, delevering 46 bps due to largely transient costs related to rapidly expanding e-commerce platform and costs associated with complying with credit card legislation. Inventory growth did outpace sales (180 bps), not surprising given a weak October comp."

Sterne Agee maintains its Buy rating and $60 price target.

Kohl's Corporation closed yesterday at $52.26.