Kohl's, Macy's, Ross and TJX update guidance
Staff Staff -- Furniture Today, February 2, 2012
New York - Encouraged by healthy results at the close of the fourth quarter, four key retailers have updated their earnings expectations.
Kohl's Corp. now projects fourth quarter earnings per share of $1.79 and $1.80. It had previously set a target of $1.70 to $1.73 per hare. For the full fiscal year it has raised guidance from $4.20-$4.23 per share to $4.29-$4.30 per diluted share.
Macy's Inc. also hiked its earnings guidance for both the quarter and full year. Fourth quarter earnings are expected to be $1.63 to $1.65 per share. Earlier, it expected 4Q EPS of $1.55 to $1.60. For the full year, Macy's now believes it will generate EPS of $2.81 to $2.83, improving its earlier guidance of $2.73 to $2.78. The projections exclude extraordinary items.
Ross Stores boosted its 4Q EPS guidance to 84 to 85 cents, which would represent a 22% to 23% jump compared to last year's 4Q earnings per share. Fiscal year earnings per share are estimated to grow 23% to 24% to $2.85 to $2.86. All share and per share figures reflect the Ross's recent two-for-one stock split.
TJX Cos. said it now expects fourth quarter fiscal 2012 earnings per share to be at or slightly above the high end of its previously estimated range of $1.19 to $1.23.
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