Kohl's (KSS) reported $3.71 billion in revenue for the quarter ended October 2024, representing a year-over-year decline of 8.5%. EPS of $0.20 for the same period compares to $0.53 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.84 billion, representing a surprise of -3.32%. The company delivered an EPS surprise of -25.93%, with the consensus EPS estimate being $0.27.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

Kohl's Corp (NYSE:KSS) stock is down 19.9% to trade at $14.71 at last glance, after the retailer's third-quarter earnings and revenue missed estimates. The company also revealed Michaels CEO Ashley Buchanan will replace its current CEO Tom Kingsbury, effective Jan. 15. In response to the results, J.P. Morgan Securities cut its price target to $13 from $17.KSS gapped to a fresh four-year low of $14.53 earlier, after running into familiar overhead pressure at the $19 level. Shares have also struggled with res ...

Core Viewpoint - Kohl's shares dropped over 20% following a significant decline in sales and the abrupt resignation of its CEO just days before Black Friday, raising concerns about the company's future performance [1][3]. Sales Performance - Kohl's reported a same-store sales decline of 9.3%, marking the eleventh consecutive quarterly decline [1][2]. - The company has lowered its annual sales forecast for the third consecutive quarter, now expecting a full-year net sales decline between 7% and 8%, compared to a previous forecast of a 4% to 6% decline [2]. Leadership Changes - CEO Tom Kingsbury announced his resignation after less than two years in the role, which is seen as a negative signal for investor confidence [3][4]. - Ashley Buchanan, former CEO of Michaels and a Walmart executive, has been appointed to take over the role in January [4]. Customer Trends - Customer visits to Kohl's decreased by an average of 6.2% in the third quarter, worsening from a 3% decline in the previous quarter [5]. - The shift in consumer behavior is evident as cash-strapped customers are increasingly turning to discount retailers like Walmart, impacting Kohl's performance [7][8]. Market Context - Kohl's shares have fallen 47.9% year-to-date, while Macy's shares have dropped 18.7% in the same period [9]. - The competitive landscape is challenging, with consumers favoring discount chains amid inflation and price hikes, which poses risks for traditional department stores like Kohl's and Macy's [8][9].

Kohl's (KSS) came out with quarterly earnings of $0.20 per share, missing the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25.93%. A quarter ago, it was expected that this department store operator would post earnings of $0.46 per share when it actually produced earnings of $0.59, delivering a surprise of 28.26%.Over the last four quarters, the ...

KEY TAKEAWAYSKohl's stock is plummeting 17% in premarket trading after it reported weaker-than-expected third-quarter earnings Tuesday, the day after it announced that CEO Tom Kingsbury would stepping down after less than two years running the struggling retailer.Kohl's also lowered its guidance for the full year.Kingsbury will be replaced by Ashley Buchanan, CEO of The Michaels Companies, on Jan. 15. Kohl's (KSS) shares are tumbling 17% in premarket trading Tuesday after the retailer posted weaker-than-exp ...

Exhibit 99.1 Kohl's Reports Third Quarter Fiscal 2024 Financial Results MENOMONEE FALLS, Wis.—(BUSINESS WIRE)—November 26, 2024— Kohl's Corporation (NYSE:KSS) today reported results for the third quarter ended November 2, 2024. • Net sales decreased 8.8% and comparable sales decreased 9.3% • Diluted earnings per share of $0.20 • Updates full year 2024 financial outlook • Kohl's Board announces CEO transition process Tom Kingsbury, Kohl's chief executive officer, said "Our third quarter results did not meet ...

KEY TAKEAWAYSKohl's shares are falling in premarket trading after the department store chain said that Chief Executive Officer (CEO) Tom Kingsbury is stepping down after less than two years running the struggling retailer.Kingsbury will leave his post on Jan. 15 and be replaced by Ashley Buchanan, CEO of The Michaels Companies.Kohl's has been struggling with falling sales and its shares are down by almost a third this year. Kohl's (KSS) shares are falling 3.5% in premarket trading after the department store ...

Kohl’s Corporation KSS will release earnings results for the third quarter, before the opening bell on Tuesday, Nov. 26.Analysts expect Kohl’s to report quarterly earnings at 27 cents per share. That's down from 54 cents per share a year ago. The Menomonee Falls, Wisconsin-based company projects to report quarterly revenue of $3.71 billion, compared to $3.84 billion a year earlier, according to data from Benzinga Pro.On Monday, Kohl’s said Chief Executive Officer Tom Kingsbury plans to step down as CEO, eff ...

Kohl’s has appointed Michaels Companies CEO Ashley Buchanan to succeed its current CEO Tom Kingsbury when Kingsbury steps down on Jan. 15.Kingsbury will retain an executive advisory role and board seat through his retirement in May, the retailer said in a Monday (Nov. 25) press release.Buchanan is a retail veteran who has been CEO of Michaels since 2020, according to the release. Before that, he was with Walmart and Sam’s Club for 13 years, holding a variety of senior executive roles.At Michaels, Buchanan i ...

Kohl's is getting a new CEO, its third since 2018.The off-mall department store's current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022, and then permanently since early 2023.Michaels CEO Ashley Buchanan will take over the top job at Kohl's as Kingsbury departs, after leading the crafting retailer since 2020. Prior to his time at Michaels, Buchanan was at Walmart and its Sam's Club division for 13 years. Kohl's shares ...