Kohl's stock price tanked by as much as 26% on Thursday after the department store chain posted a surprise quarterly loss on weaker consumer demand — especially among inflation-battered middle-class shoppers, the company said. The Wisconsin-based company cut its annual sales and profit forecasts as shoppers are still prioritizing essential purchases over discretionary products like apparel, electronics and home goods as they face dwindling pandemic-era savings. Discretionary spend of Kohl's middle-income cu ...

Kohl's shares plunged as much as 25% on Thursday after the retailer reported a surprise first-quarter loss and lowered its forecast for the year. The department store chain saw a 5.3% drop in net sales for the fiscal quarter ending May 4, and comparable sales were down 4.4%. The company said lower clearance sales versus last year amounted to a 600-basis-point drag on comparable sales. "Our first quarter results did not meet our expectations and are not reflective of the direction we are heading with our str ...

Kohl's Corporation (NYSE:KSS) Q1 2024 Earnings Conference Call May 30, 2024 9:00 AM ET Company Participants Mark Rupe - SVP, IR and Treasury Tom Kingsbury - CEO Jill Timm - CFO Conference Call Participants Bob Drbul - Guggenheim Oliver Chen - TD Cowen Mark Altschwager - Baird Matthew Boss - JPMorgan Chuck Grom - Gordon Haskett Dana Telsey - Telsey Group Operator Good morning, and welcome to the Kohl's Corporation First Quarter 2024 Earnings Conference Call. Please note that today's conference is being recor ...

Kohl's is looking to boost its sagging sales by promoting value to consumers who have been buffeted by high interest rates and inflation. During the quarter ended May 4, the retailer's net sales decreased 5.3% year-over-year and its comparable sales declined 4.4%, according to a Thursday (May 30) earnings release. Kohl's attributed the drop in part to a reduction in clearance sales, which more than offset an increase in regular price sales. "As it relates to the consumer backdrop, our customers continue to ...

Kohl's Corporation (KSS) posted drab first-quarter fiscal 2024 results, with the top and bottom lines declining year over year and falling short of the Zacks Consensus Estimate. While regular price sales increased, soft clearance sales (in comparison to the year-ago period) were a downside. Nonetheless, Kohl's witnessed an improved gross margin and lower inventory while benefiting from stringent cost control. Management remains optimistic about its growth efforts, including Sephora, home decor, gifting, imp ...

Thursday, May 30th, 2024 The biggest day of market data this week (so far) is today. A first revision of Q1 Gross Domestic Product (GDP), Initial and Continuing Jobless Claims, Advance Trade in Goods, Inventory tallies and more key retail earnings numbers dominate the landscape. Unfortunately, pre-market futures are either discounting positive elements of the new data or they're simply ignoring it: the Dow is -300 points at this hour, The Nasdaq is -15 and the Nasdaq -25 points. The slo-mo selloff from all- ...

If you're looking for a generous dividend stock, Kohl's could be it -- and it just got a lot cheaper. Kohl's Corporation (KSS -25.91%) stock imploded Thursday morning -- down 26.3% through 10:15 a.m. ET - - after reporting a big net loss where investors had expected a profit. Heading into the first quarter, analysts forecast Kohl's would earn $0.04 per share on sales of $3.3 billion. Both predictions represented declines from Kohl's Q1 2023 report, but the news was even worse than expected. Kohl's didn't ea ...

Kohl's Corp (NYSE:KSS) announced a surprise loss and revenue miss for the first quarter. The retailer also cut its annual sales forecast due to weaker demand, despite discounts and brand variety. Kohl's stock was last seen down 26.4% at $20.08, trading at its lowest level since October as it paces for its worst single-day percentage drop on record. The shares are down more than 28% for 2024, and are trading below recent support stemming from the 20-day moving average. Short sellers are already firmly in con ...

Kohl's (KSS) reported $3.38 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 5.3%. EPS of -$0.24 for the same period compares to $0.13 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $3.54 billion, representing a surprise of -4.47%. The company delivered an EPS surprise of -700.00%, with the consensus EPS estimate being $0.04. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Key Takeaways Kohl's shares fell sharply Thursday after it posted an unexpected net loss for the first quarter. The retailer also lowered its guidance for the full year, citing "ongoing uncertainty" among consumers. Shares plummeted 27% soon after the opening bell to their lowest point since October. Kohl's Corp. (KSS) shares tumbled Thursday after the retailer reported an unexpected net loss for the first quarter and lowered its guidance for the full year. Revenue fell 5% year-over-year to $3.38 billion, m ...