Why Kohl's Stock Is Plummeting Today
Shares of Kohl's Corp (NYSE: KSS) are falling on Tuesday. The company's stock plunged 25.1% as of 2:40 p.m. ET and was down as much as 27.4% earlier in the day. The steep decline comes amid a broader market pullback, with the S&P 500 down 0.4% and the Nasdaq Composite down 0.2%.The department store chain reported disappointing quarterly results and provided a bleak outlook for the year ahead.Kohl's announced that its fourth-quarter revenue and same-store sales declined 9.4% and 6.7% year over year (YOY), respectively. The retailer reported earnings per share (EPS) of $0.95, a steep drop from last year's $1.67 for the same period. It was better than Wall Street's target of $0.75, however.Continue reading
Shares of Kohl's Corp (NYSE: KSS) are falling on Tuesday. The company's stock plunged 25.1% as of 2:40 p.m. ET and was down as much as 27.4% earlier in the day. The steep decline comes amid a broader market pullback, with the S&P 500 down 0.4% and the Nasdaq Composite down 0.2%.
The department store chain reported disappointing quarterly results and provided a bleak outlook for the year ahead.
Kohl's announced that its fourth-quarter revenue and same-store sales declined 9.4% and 6.7% year over year (YOY), respectively. The retailer reported earnings per share (EPS) of $0.95, a steep drop from last year's $1.67 for the same period. It was better than Wall Street's target of $0.75, however.
