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Kohl’s News: KSS Stock Slips 7% on Disappointing Holiday Sales

KSS also has a poor outlook update for 2019

Kohl’s (NYSE:KSS) news for Thursday includes disappointing holiday sales data that has KSS stock taking a beating.

Kohl's News: KSS Stock Slips 7% on Disappointing Holiday Sales
Source: Sundry Photography/Shutterstock.com

According to a Kohl’s news release, the company saw its net sales for the 2019 holiday season drop by 0.2% when compared to the same time last year. While KSS says there were positives during the period, it was ultimately hurt by softness in its women’s department.

While the holiday sales data is definitely negative Kohl’s news, it isn’t the only thing affecting KSS stock today. The company also provides an update to its fiscal 2019 outlook in the most recent announcement.

The Kohl’s news release notes that the company now expects earnings per share to be at the low end of its 2019 guidance range of $4.75 to $4.95. That’s bad because it will have it missing Wall Street’s estimate of $4.84 for the year.

Michelle Gass, CEO of Kohl’s, says this about the KSS stock update.

“As we look ahead, we are committed to driving innovation and bringing new experiences to both our existing and new customers. We look forward to sharing additional details on our key growth initiatives at our upcoming investor day.”

Kohl’s will be releasing its earnings report for the fourth quarter of 2019, as well as the full year, on March 3, 2020. It’s Investor Day will then follow a couple of weeks later on March 16, 2020.

KSS stock was down 7.34% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/01/kohls-news-hits-kss-stock/.

©2020 InvestorPlace Media, LLC