May 21, 2019 / 11:09 AM / a month ago

Kohl's misses same-store sales estimates, shares fall 10%

May 21 (Reuters) - Kohl’s Corp missed Wall Street estimates for quarterly same-store sales on Tuesday for the first time in two years, sending shares of the department store operator down over 10%.

Sales at stores open for at least a year fell 3.4%, coming below average analyst estimate of 0.15% drop, according IBES data from Refinitiv.

“The year has started off slower than we’d like, with our first quarter sales coming in below our expectation,” Chief Executive Officer Michelle Gass said. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

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