Cramer calls out Kohl's CEO for glossing over why earnings missed estimates as shares plunge

on Tuesday after the department store chain reported disappointing earnings and warned on forward guidance.," as shares of Kohl's tumbled more than 18%, on pace for their worst single trading day since January 2017.that fell below Wall Street expectations. It also cut its full-year profit outlook.

While Kohl's did not blame specific issues, CEO Michelle Gass said in a statement that the company is "investing in the short-term" in order to "drive profitable growth over the long-term.""Mad Money" host asked. "Listen, we're spending a lot of money. So far, the results aren't there. The results will be there."

In order to boost profitability, Kohl's has been launching its own brands and working with celebrity partners.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

'When tech stocks go down they're not necessarily out,' Jim Cramer says'Mad Money' host Jim Cramer says it's 'crazy' to sell semiconductor stocks such as AMD and Nvidia 'when they report good quarters with a tiny bit of irrelevant hair on them.'
La source: CNBC - 🏆 12. / 72 Lire la suite »

Kohl's shares tank on earnings miss, retailer cuts fiscal 2019 earnings outlook'The quarter started off positive in August with another successful back-to-school season and ended strong in October,' CEO Michelle Gass said.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Home Depot and Kohl's earnings, housing data: 3 things to watch for in the markets on TuesdayWe'll get earnings from retailers Home Depot and Kohl's and housing starts data on Tuesday.
La source: CNBC - 🏆 12. / 72 Lire la suite »