November 19, 2019 / 12:10 PM / a month ago

Kohl's cuts full-year profit forecast; shares fall

Nov 19 (Reuters) - Department store operator Kohl’s Corp cut its annual profit expectations on Tuesday ahead of the all-important holiday shopping season, and missed same-store sales estimates for the third quarter, sending its shares down nearly 10%.

Kohl’s said it now expects full-year adjusted earnings to be between $4.75 and $4.95 per share, compared to its previous forecast of $5.15 to $5.45.

Sales from stores open for at least a year rose 0.4% in the third quarter ended Nov. 2, while analysts on average had expected same-store sales to increase 0.76%, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below