Kohl’s Corporation (NYSE: KSS) Tuesday announced financial results for the third quarter of 2024, reporting a year-over-year decline in sales and net income. The company also provided guidance for fiscal 2024.
Third-quarter net sales decreased 8.8% year-over-year to $3.5 billion, with comparable store sales declining 9.3%. The top line also missed analysts’ forecasts.
Net income for the October quarter was $22 million or $0.20 per share, compared to $59 million or $0.53 per share in the year-ago quarter. Earnings fell short of expectations. For fiscal 2024, the management expects net sales to decrease by 7-8% while comparable sales are expected to decrease by 6-7%.