Kohl's Corp.'s shares dropped about 6% as of Jan. 10, 12:23 p.m. ET, even as the company raised the lower end of its fiscal 2018 EPS guidance range after reporting positive comparable sales results for the holidays.
The department store operator now expects its EPS to range between $5.50 and $5.55, versus its previous guidance of $5.35 to $5.55. Kohl's shifted comparable sales for the nine weeks to Jan. 6 increased 1.2%, the company said in a news release.
Kohl's noted that the guidance excludes the debt extinguishment charge of $42 million, or 19 cents per share, which was recorded in the first quarter of fiscal 2018. It also excludes other nonrecurring charges Kohl's 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.
The company kept its stores open for 24 hours and offered last-minute shopping services, including free in-store pickup, during December 2018.