Reported 4 months ago
Kohl's stock experienced a significant drop due to a surprise loss in the first quarter and a cut in its full-year guidance, leading to a 24% decline. The retailer's CEO mentioned that the results did not meet expectations and did not reflect their strategic direction. The decline in Kohl's shares also had a ripple effect on other department stores like Nordstrom and Macy's. Despite some bright spots such as strong sales at Sephora, the overall sales decline was concerning for investors in light of the weak macro environment.
Source: YAHOO