00:00 Kohl's EPS here, $0.52 beats the $0.22 estimate. Sales of 3.9 billion beat the 3.69 billion
00:08 estimate, but then they reaffirmed the decrease in full year 23 sales, including the impact
00:14 of the 53rd week, which is worth approximately 1%, expecting operating margins of approximately
00:22 4% and sees EPS of $2.10 to $2.70 versus a consensus of $2.38. Now, I did want to say
00:31 a little bit about that just because I know a lot of people are like, what 53rd week?
00:35 Yeah, this year has 53 weeks. It's one of the few that have it. So if the year starts
00:43 on a Thursday or is in a leap year that starts on a Wednesday, that particular year will
00:50 have 53 numbered weeks. So if you noticed why you have a little bit of extra cash maybe
00:58 in your checking account right now, it might be because you had that extra payday.
01:02 There you go. You get that extra payday. I thought Macy's could bounce this. They did
01:07 not at all. They just continued to hammer. Kohl's was a pretty good report, but it's
01:11 already leaking here. For some reason, I've been giving Kohl's a pass lately though. I
01:16 was longing for a long time. I ate the loss. Obviously, should have held on because I would
01:21 have got a lot of the losses back. But shrink is an issue for all these companies here too,
01:26 talking about theft and whether it's organized or just people coming in and putting something
01:32 in their pocket. Everybody's talking about the Macy's CEO said it's a serious issue.
01:37 We had obviously DKS yesterday saying it's a serious issue. I mean, the margins are thin
01:42 on some of these companies here. And when you got theft, that hits the bottom line directly.
01:48 So I don't know. They got to figure out a way to stop the theft. I mean, I've seen the
01:52 videos of these groups of, it looks like almost organized, where there's groups of 20, 30,
01:58 40 people coming in just stealing everything and then breaking and leaving. I mean, it
02:02 seems insane that that happens in the USA. It seems crazy to me. I don't know how you
02:09 guys stop it, but they got to figure out a way to stop it because it's killing these
02:12 retailers.
02:13 Big popping coals and you're right. The fade is on, got almost to yesterday's high. 27.50
02:21 is your pre-market high, 27.61. I think people are caught from yesterday's price action,
02:27 right? Following Macy's lower. I just think it's really important for this to stay green
02:33 today. It did settle near the low of the session. So you have 53 cents. So right now it's holding
02:41 in there, has the gains, but if it comes down to unchanged or goes red on the session, I
02:47 think people will be selling in the strength and coals. And also you really haven't had
02:51 a meeting, a meaningful retracement. Wow. This was a teeny bopper in June. Wow. 18 to
02:58 30. Let's call it. That's a 12 point movie. Take six of that, maybe 24 bucks. The only
03:03 place with a couple lows in the same area is 25.
