Kohl's slumps after reporting holiday sales decline
Kohl's Corp. KSS, -1.57% shares sank 6.4% in Thursday premarket trading after the retailer reported a 0.2% decline in holiday season comparable sales. "We continue to see momentum in key areas including our digital business, active, beauty and children's, and solid performance in footwear and men's," said Chief Executive Michelle Gass in a statement.
"This was offset by softness in women's, which we are working with speed to address." Fiscal 2019 earnings are now expected to be on the low end of the guidance range for $4.75 to $4.95. The FactSet consensus is for EPS of $4.88. Kohl's was downgraded twice in recent days based on weakness in the women's business. Kohl's is scheduled to announce fourth-quarter earnings Feb. 25. Kohl's shares have fallen 29.4% over the past year while the S&P 500 index SPX, +0.
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