Kohl's First Take: Comp Trends Slightly Stronger

Kohl's reported a 1Q26 EPS beat of -$0.13 and slightly better-than-expected comparable sales of -1.1%. The company reaffirmed its FY26 guidance, though GS maintains a Sell rating with a $13 price target.

Key Takeaways

• 1.Kohl's reported 1Q26 EPS of -$0.13, which was ahead of Goldman Sachs and FactSet consensus expectations of -$0.22 and -$0.19 respectively.
• 2.Comparable sales declined -1.1%, performing better than the projected -1.5% to -1.7% declines.
• 3.Management reaffirmed its full-year 2026 guidance, including adjusted EPS of $1.00-$1.60 and comparable sales between flat and -2%.

Table of Contents

• Key highlights
• Valuation and key risks
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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