Kohl's Stock Spirals on Earnings Miss, CEO Switch: What to Know
Kohl's stock is sinking Tuesday after the retailer missed Q3 earnings expectations, slashed its full-year outlook and announced a C-suite shakeup.


Kohl's (KSS) stock fell sharply out of the gate Tuesday after the department store chain came up short of top- and bottom-line expectations for its fiscal third quarter and cut its full-year outlook.
In the three months ended November 2, Kohl's reported net sales of $3.5 billion, a decrease of 8.8% year over year, as its comparable-store sales declined 9.3%. Its earnings per share (EPS) slumped 62.3% from the year-ago period to 20 cents.
"Our third-quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses," said Kohl's CEO Tom Kingsbury in a statement. "We are not satisfied with our performance in 2024 and are taking aggressive action to reverse the sales declines. We must execute at a higher level and ensure we are putting the customer first in everything we do."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The results came up short of analysts' expectations. Wall Street was anticipating net sales of $3.6 billion and earnings of 28 cents per share, according to CNBC.
As a result of its weak quarter, Kohl's slashed its full-year outlook. Here's what the company now expects to accomplish versus its previous forecast:
Metric | Current outlook | Previous outlook |
---|---|---|
Net sales | (7%) to (8%) | (4%) to (6%) |
Comparable-store sales | (6%) to (7%) | (3%) to (5%) |
EPS | $1.20 to $1.50 | $1.75 to $2.25 |
"We are approaching our financial outlook for the year more conservatively given the third-quarter underperformance and our expectation for a highly competitive holiday season," Kingsbury said.
Kohl's announces new CEO
In a separate announcement released Monday, Kohl's said that Tom Kingsbury will step down as CEO, effective January 15, 2025. He will be replaced by Ashley Buchanan, who previously served as chief executive officer of Michael's and held executive positions at Walmart (WMT) and Sam's Club.
"We are excited to welcome Ashley to Kohl's," said Board Chair Michael Bender. "His vast retail experience leading operations, merchandising, and e-commerce at Walmart and his past five years as CEO of Michaels will bring a steady, proven, innovative leader to Kohl's as we continue to transform the business and drive future growth."
Buchanan will be Kohl's third CEO since 2018.
Is Kohl's stock a buy, sell or hold?
Kohl's has had plenty of trouble on the price charts, too, and was down nearly 32% for the year to date heading into Tuesday's session. Unsurprisingly, Wall Street is on the sidelines when it comes to the consumer discretionary stock.
According to S&P Global Market Intelligence, the average analyst target price for KSS stock is $21.32, representing implied upside of more than 30% to current levels. Meanwhile, the consensus recommendation is a Hold. Analysts may very well reduce their ratings and price targets following the dismal quarterly results and C-suite shift.
Financial services firm UBS Global Research is one of the more bearish outfits on the small-cap stock with a Sell rating and $13.50 price target.
"We believe Kohl's lost big market share in Q3, and this gives us increased conviction in our Sell rating," wrote UBS analyst Jay Sole in a November 15 note.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
Stock Market Today: Great Power Affairs Mesmerize Markets
The U.S. and China are at least talking about talking about tariffs, and investors, traders and speculators are showing a little less fear.
By David Dittman
-
Is Walmart Plus Worth It?
There are tons of exciting Walmart Plus benefits – but are they worth the $98 annual fee?
By Rachael Green
-
Stock Market Today: Great Power Affairs Mesmerize Markets
The U.S. and China are at least talking about talking about tariffs, and investors, traders and speculators are showing a little less fear.
By David Dittman
-
Three Options for Retirees With Concentrated Stock Positions
If a significant chunk of your portfolio is tied up in a single stock, you'll need to make sure it won't disrupt your retirement and legacy goals. Here's how.
By Evan T. Beach, CFP®, AWMA®
-
Four Reasons It May Be Time to Shop for New Insurance
You may be unhappy with your insurance for any number of reasons, so once you've decided to shop, what is appropriate (or inappropriate) timing?
By Karl Susman, CPCU, LUTCF, CIC, CSFP, CFS, CPIA, AAI-M, PLCS
-
Stock Market Today: Stocks Rise on Good Volatility
Investors, traders and speculators continue to process the "known unknown" of global tariff-and-trade war negotiations.
By David Dittman
-
Before You Invest Like a Politician, Consider This Dilemma
As apps that track congressional stock trading become more popular, investors need to take into consideration some caveats.
By Ryan K. Snover, Investment Adviser Representative
-
How to Put Together Your Personal Net Worth Statement
Now that tax season is over for most of us, it's the perfect time to organize your assets and liabilities to assess your financial wellness.
By Denise McClain, JD, CPA
-
Stock Market Today: Trump Retreats, Markets Rejoice
Stocks rally, yields soften, the dollar rises, and even beaten-down names enjoy the wages of potential trade peace.
By David Dittman
-
Tesla Stock Pops as Elon Musk Promises DOGE Draw Back
Tesla reported a sharp drop in first-quarter earnings and sales, as the EV maker suffered a backlash to its CEO's political ambitions.
By Karee Venema