Staples, Inc. announced the results for its first quarter ended April 29, 2017. Total company sales for the first quarter of 2017 were $4.1 billion, a decrease of five percent compared to the first quarter of 2016. On a GAAP basis, the company reported net income from continuing operations of $105 million, or $0.16 per diluted share. First quarter 2017 results from continuing operations include pre-tax charges of $8 million primarily related to restructuring. Total company comparable sales for the first quarter of 2017 declined three percent compared to the first quarter of 2016. Excluding the impact of certain charges taken during the first quarter of 2017, the company reported non-GAAP net income from continuing operations of $113 million, or $0.17 per diluted share. click Read More below for additional detail
Kohl’s Corporation (NYSE:KSS) today reported comparable sales for November and December 2018 combined (the “Holiday period”). On a shifted basis, which compares the nine weeks ended January 5, 2019 and January 6, 2018, comparable sales for the Holiday period increased 1.2%
“We are delighted with our 1.2% shifted comparable sales increase for the Holiday period, which builds on the positive momentum we have achieved throughout the year,” said Michelle Gass, Kohl’s chief executive officer. “The organization once again delivered a very strong holiday that topped last year’s exceptional holiday season. The strong performance we achieved this holiday reflects the compelling product offering, great marketing strategy, and consistent execution in stores and online. We are particularly pleased with the positive transaction growth and the double-digit digital growth we experienced this holiday, as our customers continue to embrace the omnichannel investments we are making.”
Gass continued, “I want to thank all of our teams across the Company who created and executed a great holiday plan and a wonderful experience for our customers.”
Based on the strong Holiday sales performance, the Company now expects its fiscal 2018 diluted earnings per share to be $5.50 to $5.55, compared to its prior guidance of $5.35 to $5.55. This guidance excludes the debt extinguishment charge of $42 million, or $0.19 per diluted share, which was recorded in the first quarter of fiscal 2018. It also excludes other non-recurring charges the Company anticipates recording related to the voluntary debt redemption announced in December 2018 and actions to be taken in the fourth quarter as part of the Company’s operational excellence initiatives.