Kohl's sinks to near three-decade low after forecasting bigger-than-expected drop in 2025 sales
ReutersMar 11, 2025 2:00 PM
Shares of U.S. department store chain Kohl's KSS.N fall as much as 17.1% to a more than 28-year low of $9.99 in early market trade
Company forecasts a bigger-than-anticipated drop in annual sales and expects profit below Wall Street estimates as it grapples with uneven demand amid its turnaround efforts
Co also reports bigger-than-expected fall in fourth-quarter same-store sales, marking its 12th consecutive quarter of decline, while adjusted EPS beat estimates
Larger peer Macy's M.N and big-box retailers such as Walmart WMT.N and Target TGT.N have also provided cautious forecasts due to inflation risks and the impact of President Donald Trump's tariffs
KSS fell 51% in 2024, and down 14.2% YTD as of last close
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