S&P changes Kohl’s to stable

S&P said it revised its outlook on Kohl's Corp. to stable from negative and affirmed the ratings, including the BBB- corporate credit rating.

The agency said the outlook revision reflects expectations that Kohl's will continue to stabilize and improve operating performance in fiscal 2018, following the recovery in the second half of fiscal 2017.

S&P said it believes the company's key operating initiatives, such as inventory improvement and store fleet optimization, as well as further expansion in omni-channel capability and penetration, have resulted in improved operating results and credit metrics, and will continue to help stabilizing performance in fiscal 2018.

With adjusted leverage improving to about 2.4x at January, the company has also built additional headroom for ongoing industry headwind and potential volatility in future performances, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.