Kohl's stock plummets more than 20% after massive earnings miss
Publishing timestamp: 2024-05-30 13:53:28
Summary
Kohl's posted a quarterly loss, missed revenue expectations, and lowered its forecast for the full year. The company attributed slower sales to tough comparisons and poor weather affecting customer buying habits. Despite efforts to attract shoppers with new merchandise and partnerships, Kohl's weak results have raised questions about its turnaround strategy. Kohl's plans to open more Sephora shops and Babies R Us outposts in its stores.
Sentiment: NEGATIVE
Keywords: earnings, dividends, retail industry, breaking news: business, burlington stores inc, business news, kohls corp drn, business,
Source: https://www.cnbc.com/2024/05/30/kohls-kss-earnings-q1-2024.html