Latest news with #Bender
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
American retailer Kohl's Q1 sees progress despite 4.1% sales decline
American omnichannel retailer Kohl's, in the first quarter (Q1) of fiscal 2025 (FY25) ended May 3, has reported net sales of $3 billion, marking a year-over-year (YoY) decline of 4.1 per cent, with comparable sales down 3.9 per cent. The gross margin improved by 37 basis points (bps) to 39.9 per cent of net sales, and selling, general and administrative (SG&A) expenses fell by 5.2 per cent to $1.2 billion, representing 36 per cent of total revenue—down 32 bps YoY. Kohl's has reported net sales of $3 billion in Q1 FY25, down 4.1 per cent YoY, with comparable sales down 3.9 per cent. Operating income rose to $60 million, while net loss narrowed to $15 million. Gross margin improved to 39.9 per cent and SG&A expenses declined. CEO Bender expressed optimism as he assumed leadership. FY25 outlook includes a 5â€'7 per cent sales decline and capex of $400â€'$425 million. The operating income rose to $60 million, compared to $43 million in the prior-year period, with the operating margin improving by 58 bps to 1.9 per cent. The company reported a net loss of $15 million, or $0.13 per diluted share, compared to a net loss of $27 million, or $0.24 per diluted share, in Q1 FY24. Inventory levels stood at $3.1 billion, a 2 per cent increase from the previous year, while operating cash flow recorded an outflow of $92 million, Kohl's said in a press statement. 'Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact. Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers. I want to thank our amazing team of associates for their hard work and dedication,' said Michael Bender, Kohl's interim chief executive officer (CEO). 'I am honoured to assume the role of interim CEO at such an important time for our company. Kohl's has a tremendous opportunity to build on our strong foundation of over 1,100 conveniently located stores and a large and loyal customer base,' added Bender on assuming his new role as CEO. 'I am excited to lead this next chapter of Kohl's and build on the momentum we have begun to generate.' For FY25, Kohl's expects net sales to decline by 5–7 per cent and comparable sales to fall by 4–6 per cent. The operating margin is projected between 2.2–2.6 per cent, with diluted EPS in the range of $0.1 to $0.6. Capital expenditures (capex) are estimated at $400–$425 million. Fibre2Fashion News Desk (SG)
Business Wire
4 days ago
- Business
- Business Wire
Kohl's Reports First Quarter Fiscal 2025 Financial Results
MENOMONEE FALLS, Wis.--(BUSINESS WIRE)--Kohl's Corporation (NYSE:KSS) today reported results for the first quarter ended May 3, 2025. Michael Bender, Kohl's Interim Chief Executive Officer, said, 'I am honored to assume the role of Interim CEO at such an important time for our company. Kohl's has a tremendous opportunity to build on our strong foundation of over 1,100 conveniently located stores and a large and loyal customer base.' 'Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact. Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers. I want to thank our amazing team of associates for their hard work and dedication. I am excited to lead this next chapter of Kohl's and build on the momentum we have begun to generate,' Bender continued. First Quarter 2025 Results Comparisons refer to the 13-week period ended May 3, 2025 versus the 13-week period ended May 4, 2024 Net sales decreased 4.1% year-over-year, to $3 billion, with comparable sales down 3.9%. Gross margin as a percentage of net sales was 39.9%, an increase of 37 basis points. Selling, general & administrative (SG&A) expenses decreased 5.2% year-over-year, to $1.2 billion. As a percentage of total revenue, SG&A expenses were 36.0%, a decrease of 32 basis points year-over-year. Operating income was $60 million compared to $43 million in the prior year. As a percentage of total revenue, operating income was 1.9%, an increase of 58 basis points year-over-year. Net loss was $15 million, or ($0.13) per diluted share. This compares to net loss of $27 million, or ($0.24) per diluted share in the prior year. Inventory was $3.1 billion, an increase of 2% year-over-year. Operating cash flow was a use of $92 million. 2025 Financial and Capital Allocation Outlook For the full year 2025, the Company continues to expect the following, excluding the impact of potential items not representative of our core operating performance: Net sales: A decrease of (5%) to a decrease of (7%) Comparable sales: A decrease of (4%) to a decrease of (6%) Operating margin: In the range of 2.2% to 2.6% Diluted EPS: In the range of $0.10 to $0.60 Capital Expenditures: In the range of $400 million to $425 million Dividend: On May 14, 2025, Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.125 per share. The dividend is payable June 25, 2025 to shareholders of record at the close of business on June 11, 2025. First Quarter 2025 Earnings Conference Call Kohl's will host its quarterly earnings conference call at 9:00 am ET on May 29, 2025. A webcast of the conference call and the related presentation materials will be available via the Company's web site at both live and after the call. Cautionary Statement Regarding Forward-Looking Information This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'anticipates,' 'plans,' or similar expressions to identify forward-looking statements. Forward-looking statements include the information under '2025 Financial and Capital Allocation Outlook.' Such statements are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. Forward-looking statements relate to the date initially made, and the Company undertakes no obligation to update them. About Kohl's Kohl's (NYSE: KSS) is a leading omnichannel retailer built on a foundation that combines great brands, incredible value and convenience for our customers. Kohl's is uniquely positioned to deliver against its long-term strategy and its purpose to take care of families' realest moments. Kohl's serves millions of families in its more than 1,100 stores in 49 states, online at and through the Kohl's App. With a large national footprint, Kohl's is committed to making a positive impact in the communities it serves. For a list of store locations or to shop online, visit For more information about Kohl's impact in the community or how to join our winning team, visit KOHL'S CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in Millions) May 3, 2025 May 4, 2024 Assets Current assets: Cash and cash equivalents $ 153 $ 228 Merchandise inventories 3,137 3,083 Other 290 345 Total current assets 3,580 3,656 Property and equipment, net 7,209 7,664 Operating leases 2,374 2,498 Other assets 476 460 Total assets $ 13,639 $ 14,278 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 1,026 $ 1,220 Accrued liabilities 1,177 1,265 Borrowings under revolving credit facility 545 355 Current portion of: Long-term debt 353 — Finance leases and financing obligations 80 81 Operating leases 99 92 Total current liabilities 3,280 3,013 Long-term debt 1,174 1,638 Finance leases and financing obligations 2,433 2,651 Operating leases 2,687 2,783 Deferred income taxes 27 94 Other long-term liabilities 259 286 Shareholders' equity: 3,779 3,813 Total liabilities and shareholders' equity $ 13,639 $ 14,278 Expand KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended (Dollars in Millions) May 3, 2025 May 4, 2024 Operating activities Net loss $ (15) $ (27) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 175 188 Share-based compensation 9 10 Deferred income taxes (2) (13) Non-cash lease expense 21 22 Other non-cash items 2 3 Changes in operating assets and liabilities: Merchandise inventories (191) (202) Other current and long-term assets 31 (81) Accounts payable (16) 86 Accrued and other long-term liabilities (83) 34 Operating lease liabilities (23) (27) Net cash used in operating activities (92) (7) Investing activities Acquisition of property and equipment (110) (126) Proceeds from sale of real estate 2 — Net cash used in investing activities (108) (126) Financing activities Net borrowings under revolving credit facility 255 263 Shares withheld for taxes on vested restricted shares (4) (9) Dividends paid (14) (55) Finance lease and financing obligation payments (21) (21) Proceeds from financing obligations 3 — Net cash provided by financing activities 219 178 Net increase in cash and cash equivalents 19 45 Cash and cash equivalents at beginning of period 134 183 Cash and cash equivalents at end of period $ 153 $ 228 Expand
Yahoo
21-05-2025
- Entertainment
- Yahoo
Edits Adds Enhanced Video Cropping, Provides Tips on Video Quality
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. Instagram continues to roll out updates for its new Edits app, though this week's feature roll out is more limited than previous weeks. This week, Instagram has added enhanced cropping options, which will make it easier to trim and refine your content by selecting a specific area or aspect ratio. So now, you'll have more options to customize and clarify your content to fit different formats, which could be helpful in building out your video content library. In addition to this, Edits product lead Tom Bender has also shared some tips on how to create high quality content using Edits' various output control functions. Bender says that Reels with higher visual quality get more engagement, and if you want to improve your output quality, you can explore these settings: Resolution - Edits supports HD (1080x1920), 2K (1440x2560), and 4K (2160x3840). Bender recommends filming and exporting at 2K, which will ensure optimal sharpness in your clips. 'You can use 4K if you want a super sharp archive, but your IG audience won't see a difference, and it will be slower to edit.' Frame Rate - Edits supports 24, 30, and 60 frames per second. Bender advises that creators should experiment with the Edits camera to see which look best fits your content: '24 is the standard for films and has a dreamy motion blur look. 30 is the default for most videos. 60 looks fluid and hyper-real, like reality TV.' Dynamic Range - Edits supports standard dynamic range (SDR) and high dynamic range (HDR). Bender advises that creators should try both in the Edits camera to asses which they like the look of: 'HDR preserves a broader range of color and contrast, which can make your video more engaging [but] some viewers don't like the look of HDR.' Sharing – Bender also advises that you should use the integrated 'Share to Instagram' button after exporting your clips from Edits, as it can help to ensure that IG viewers see a higher quality version - 'because we can optimize this flow and minimize re-encodes.' Some valuable pointers, which could help you maximize your usage of Meta's new video app. You can check out the previous feature updates for Edits here, here and here, while you can download Edits on iOS or Android. Recommended Reading Facebook's Portal Could Play a Major Role in the Company's Strategic Direction Sign in to access your portfolio
Yahoo
19-05-2025
- Yahoo
Wanted: Police search for Cambria County theft suspect
CAMBRIA COUNTY, Pa. (WTAJ) — The Stonycreek Township Police Department announced that it is searching for a man facing multiple counts of theft. Robert Bender is wanted by the department on charges of theft, receiving stolen property and loitering and prowling at night. It was also noted that Bender is wanted by Pennsylvania State Parole. Anyone with information on Bender's whereabouts is asked to contact the Stonycreek Township Police Department at 814-266-3112 or their local department. The department also spoke directly to Bender in their Facebook post, asking him to contact either his parole agent or the Stonycreek Department immediately. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Axios
15-05-2025
- Entertainment
- Axios
What to expect at Kansas City's new Museum of Barbecue
Kansas City just stoked the fire in America's barbecue battle by opening what is believed to be the world's first museum dedicated entirely to the craft. Why it matters: For decades, cities like Memphis, Austin and Kansas City have jockeyed for the title of BBQ capital. Now, KC isn't just claiming the crown — it's putting it behind glass. The new Museum of Barbecue at Crown Center opened April 12, turning a regional obsession into a full-blown cultural institution, with a championship mustard belt and a pit of plastic beans. What to expect: A self-guided walk through 4,200-plus square feet of exhibits, featuring: A scratch-and-sniff wall for spice nerds — lift the flap and guess the rub. "Meat" me in the bean pit, aka a pit of 8,000 plastic beans (yes, it's real). A massive mural dedicated to Memphis BBQ culture. Photo-ops and barbecue, dad puns galore ("Why did the steak go to therapy? It had too much beef with others.") The vibe: A big ol' meat-related playground. Guests can also toss foam smoke rings, smell spice jars, touch wood from Woodyard BBQ and squish their way across light-up "sauce tiles" through 10 different installations. There's even a championship mustard belt in the South Carolina room. Between the lines: Founder Jonathan Bender — a former KC PBS food editor and certified barbecue judge — designed the space like a meal. Visitors move from meat to rub, fire to sauce, then into regional styles — from Memphis to the Carolinas. "It's meant to be sensorial," Bender said. "You smell the smoke, you touch the wood, you walk on the sauce." And it's not just for foodies."It's built for all ages," he said, "from kids on field trips to pitmasters in training." KC flavor: The Kansas City room tips a hat to local legend Rich Davis — inventor of KC Masterpiece Barbecue Sauce — and gives burnt ends their rightful moment. What they're saying: "Kansas City is the melting pot of barbecue culture — there's no better place for a museum than the city where KCBS was founded 39 years ago," Rod Gray, CEO of the Kansas City Barbeque Society, tells Axios. "Barbecue's future is bright with or without a museum, but honoring its heritage helps people understand where we've been and how we got here."
