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Kohl’s shares tank on dismal holiday sales results, lowered outlook

January 9, 2020

Via: CNBC

Kohl’s said same-store sales during November and December fell 0.2% due to weakness in its core women’s apparel business, leading it to temper expectations for the year.

Based on the dismal holiday performance, Kohl’s said in a press release that it is now calling for fiscal 2019 diluted earnings per share to be at the “low end” of a previously announced range of $4.75 to $4.95. In November, when it last reported quarterly earnings, the company cut its annual profit forecast to $4.75 to $4.95 per share from $5.15 to $5.45.

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