Kohl’s Corporation (NYSE:KSS) stock edged higher Tuesday after the retailer posted stronger-than-expected quarterly results.
The company reported fourth-quarter adjusted earnings per share of $1.07, beating the analyst consensus estimate of 85 cents. Quarterly sales of $5.173 billion outpaced the Street view of $5.032 billion.
Fourth quarter net sales decreased 3.9% and comparable sales decreased 2.8%.
“We were able to manage the business with discipline, deliver improved earnings, and generate meaningful cash flow, all of which helped us strengthen our balance sheet,” said CEO Michael J. Bender.
Quarterly gross margin as a percentage of net sales was 33.1%, an increase of 25 basis points year over year.
Operating income was $212 million, compared to $126 million in the prior year. The operating margin was 4.1%, up 176 basis points year over year.
Kohl’s Corporation exited the quarter with cash and equivalents worth …