Retail giant Kohl’s Corp (NYSE: KSS) saw its shares plunge 10% during the morning trade on Tuesday after reporting lower-than-expected first-quarter earnings results, as weakness continues. The company also lowered its guidance for the full year.
Adjusted net income fell 5% to 61 cents per share, lower than 67 cents per share projected by the street. Total revenues declined by 3% to $4.09 billion, as comparable sales fell 3.6% year-over-year. Analysts were expecting revenues of $4.12 billion.
On a reported basis, earnings fell to 38 cents per share from 46 cents per share a year ago.
KSS stock has mostly traded sideways this year, and is currently down 7.4%.
The Menomonee Falls, Wisconsin-based retailer slashed its outlook for annual EPS to a range of $5.15 to $5.45, compared to its prior guidance of $5.80 to $6.15.
READ: THE QUESTION EVERY POT INVESTOR ASKS HIMSELF – AURORA CANNABIS OR HEXO?
CEO Michelle Gass said, “The year has started off slower than we’d like, with our first quarter sales coming in below our expectation. We are actively addressing the opportunities that impacted our first quarter sales and we have strong initiatives that will enhance our sales performance in the second half.”
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
