Kohls (KSS) Stock

When Kohl's Corp. on Monday announced it was getting a new chief executive next year, investors got suspicious. On Tuesday, the department-store chain confirmed those suspicions, reporting results that missed expectations and sending shares sharply lower.

Kohl's said comparable sales plummeted 9.3% in the third quarter. Apparel and footwear sales struggled despite strong performances for Sephora and other categories.

Kohl's Corp. has reported another disappointing earnings and revenue, and has confirmed a change at the helm. After posting its 11th consecutive quarter of comparable sales decline for the third quarter, Kohl's also lowered its full-year sales outlook.

In the days before Thanksgiving, retail investors want reasons to be hopeful—after all, we're about to enter the busiest shopping period of the year.

Kohl's cut its full-year sales outlook as the company now expects its 2024 comparable sales to fall between 6% and 7%, lower than its earlier guidance of a 3% to 5% drop. The store's turnaround strategy will now be turned over to Ashley Buchanan, who will take over as chief executive officer in January.

KSS' Q3 results show lower sales and earnings on weakness in the apparel and footwear sectors. Management lowers fiscal 2024 guidance.

Kohl's will sharpen its focus on value by increasing its inventory of private brands and delivering more targeted offers as it works to reverse its declining sales. The retailer said this Tuesday (Nov.

Kohl's (KSS) has lowered its annual forecast following weaker-than-expected third-quarter results, causing shares to drop by nearly 20%. The retailer also announced that CEO Tom Kingsbury will step down in January, after less than two years in the role.

Kohl's Corporation shares have plummeted 37% this year, with a 20% drop following poor Q3 results and a CEO change, indicating severe operational struggles. Despite efforts to modernize, including partnerships with Amazon and Sephora, Kohl's continues to lose market share and faces declining same-store sales. Financial flexibility exists with $174 million in cash and manageable debt, but free cash flow is significantly lower, impacting dividend sustainability and share repurchases.