Kohl's stock drops after earnings beat expectations but full-year outlook withdrawn

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Kohl's withdraws earnings guidance

Shares of Kohl's Corp. KSS, -7.08% dropped 4.0% in premarket trading Thursday, after the department store chain reported fiscal third-quarter profit and revenue above expectations, but withdrew its full-year outlook citing"significant" macroeconomic headwinds and the unexpected transition of its chief executive officer. Net income for the quarter to Oct. 29 fell to $97 million, or 82 cents a share, from $243 million, or $1.65 a share, in the year-ago period.

and Tom Kingsbury was appointed interim CEO. The stock has dropped 12.2% over the past three months through Wednesday, while the S&P 500 SPX, -0.83% has declined 7.4%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines