Kohl's Stock Heads Toward Worst Day Ever After Earnings

Kohl's stock is tanking Thursday after the department store chain missed Q1 expectations and cut its full-year forecast. Here's what you need to know.

Kohl's department store sign hanging outside building in Miami, Florida
(Image credit: Joe Raedle/Getty Images)

Kohl's (KSS) stock is down more than 25% midday Thursday after the department store chain failed to meet revenue and earnings expectations for its fiscal first quarter and slashed its outlook for the full year. If these losses hold through the close, it will be the retail stock's worst day ever, according to Dow Jones Market Data.

In the 13-week period ended May 4, Kohl's reported net sales of $3.2 billion, a decrease of 5.3% year-over-year, as its comparable-store sales fell 4.4%. On the bottom line, KSS swung to a per-share loss of 24 cents compared to earnings of 13 cents per share in the year-ago period.

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Joey Solitro
Contributor

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.