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%.