Kohl's (KSS), Macy's (M) stocks rally on strong quarterly results

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Kohl's (KSS), Macy's (M) stocks rally on strong quarterly results

 Kohl's (KSS), Macy's (M) stocks rally on strong quarterly results
Image source: Chinnapong,Shutterstock

Highlights

  • The total revenue of Kohl's Corporation (NYSE: KSS) surged more than 30% YoY.
  • Macy's Inc (NYSE: M) reported net sales of US$5.6 billion in the second quarter.
  • Stocks of Macy's and Kohl's rose 7.19% and 4.09%, respectively.

The stocks of Macy's Inc. (NYSE: M) and Kohl's Corporation (NYSE: KSS) were up 7.19% and 4.09%, respectively, in the pre-market after reporting strong quarterly earnings on August 19.


Both the companies reported their second-quarter earnings before the market opened on Thursday.

The Macy's (M) stock traded at US$19.37, up 7.19 percent at 9:02 am ET, while the shares of Kohl's (KSS) were priced at US$53.97, up 4.09 percent, at 9:03 am ET.

Macy's and Kohl's are retail companies that sell various products like apparel, accessories, and other consumer products through their departmental stores, websites, and mobile applications.

The companies topped the analysts' expectations in their Q2 earnings report.

Let's explore the second-quarter earnings results of the two companies.

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Macy's Inc. (NYSE: M)

The retail store operator’s net sales were US$5.6 billion in Q2, 2021, compared to US$3.5 billion in the year-ago quarter. Its operating income came in at US$597 million compared to a loss of US$631 million in the same quarter the previous year.

The company’s net income was US$345 million or US$1.08 per diluted share in Q2, compared with a net loss of US$431 million or US$1.39 per diluted share in the year-ago quarter.

Macy's ended the Q2 with cash of around US$2.1 billion, the company reported.

The stock of the Ohio-based firm gained 61.05 percent YTD.

Its market cap is US$5.63 billion, and the forward P/E one year is 7.76. The EPS is US$-0.86. The highest and lowest stock price of the firm for the last 52 weeks was US$22.30 and US$5.57. Its share volume on August 18 was 17,615,460.

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Source: Pixabay

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Kohl's Corporation (NYSE: KSS)


The total revenue of Kohl's surged 30.5 percent YoY to US$4.4 billion in Q2, 2021, compared with US$3.4 billion in the year-ago quarter. Its net income came in at US$382 million or US$2.48 per diluted share, compared with US$47 million, or US$0.30 per diluted share in the same quarter the earlier year.

The net sales of the company were US$4.2 billion compared to US$3.2 billion in Q2 of fiscal 2020. Its operating income came in at US$570 million in the second quarter, 2021, compared to US$118 million in the year-ago quarter.

The KSS stock gained 33.7 percent YTD.

Its market cap is US$8.1 billion, the P/E ratio is 20.66, and the forward P/E one year is 11.65. The EPS is US$2.51. The highest and lowest stock price of the Wisconsin-based firm for the last 52 weeks was US$64.80 and US$18.28. Its share volume on August 18 was 4,229,621.

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Bottomline

Investors' spirits were high after their strong quarterly results, which were above Wall Street's prediction. The lifting of restrictions and the improvement in the pandemic situation helped them stage a strong performance in Q2. Rapid vaccinations enabled more people to visit their stores.

Both Macy's and Kohl's have raised their full-year sales and profit forecasts. In addition, Macy's said it will start paying dividends, which were stopped in the last year due to the Covid-19 pandemic.

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