MW Kohl's stock slides as sales plunge. Its CEO says the company is taking action.
Kohl's Corp. $(KSS)$ shares are down more than 16% in premarket trades after the department-store chain's quarterly results again missed revenue and profit expectations as sales fell 9.4% year-over-year.
Net income for the quarter ending Feb. 1, 2025, was $48 million, or 43 cents a share, compared with $186 million, or $1.67 a share, in the prior year's quarter. Analysts surveyed by FactSet were looking for earnings of 73 cents a share.
Revenue fell to $5.175 billion from $5.710 billion in the same period last year, below the analyst estimate of $5.182 billion.
"We have identified key areas of focus and are taking action in 2025 to reposition Kohl's for future success," Kohl's Chief Executive Ashley Buchanan said in a statement. "Our customers expect great product, great value, and a great experience from Kohl's. I am confident that the areas we identified will deliver on what customers want and expect from Kohl's."
(This is a developing news story with updates to come.)
-James Rogers
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March 11, 2025 07:35 ET (11:35 GMT)
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