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Kohl's Stock Crashes 20% on Surprise Loss and Profit Warning

1 min read
Source: CNBC
Kohl's Stock Crashes 20% on Surprise Loss and Profit Warning
Photo: CNBC
TL;DR

Kohl's stock dropped over 20% after reporting a surprise loss in its first-quarter earnings, missing Wall Street expectations. CEO Tom Kingsbury attributed the poor performance to tough comparisons and weak sales in the last five weeks of the quarter due to poor weather. Despite efforts to attract shoppers with new merchandise and Sephora in-store shops, the company's turnaround strategy has yet to show significant results. Kohl's has lowered its 2024 guidance, citing higher interest rates and inflation as additional challenges.

Topics:business#business#earnings-report#kohls#retail#stock-market#turnaround-strategy
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  1. Kohl's stock plummets 20% after massive earnings miss  CNBC
  2. Kohl's Plunges as Results Miss Estimates on Lingering Weakness  Bloomberg
  3. Kohl's stock drops on swing to unexpected loss, 2024 profit warning  MarketWatch
  4. Kohl's shares crater on surprise quarterly loss, annual forecast cut  Reuters
  5. Kohl’s Stock Tumbles After Loss in Earnings Report and Lower Revenue Guidance  Barron's

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