Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California.
Justin Sullivan | Getty Images News | Getty Images
Kohl’s earnings and sales for the latest quarter fell short of analysts’ estimates, the company reported on Tuesday. It also cut its profit outlook for the full year.
Its shares tumbled more than 10% in premarket trading on the news.
Here’s how Kohl’s did for its fiscal third quarter compared with what analysts were expecting, based on Refinitiv data:
- Earnings per share: 74 cents, adjusted, vs. 86 cents expected
- Revenue: $4.36 billion vs. $4.40 billion expected
- Same-store sales: up 0.4% vs. growth of 0.8% expected
Kohl’s said it now expects to earn an adjusted $4.75 to $4.95 per share for fiscal 2019, compared with a prior range of $5.15 to $5.45.
Kohl’s shares, as of Monday’s market close, have fallen roughly 12% this year. The department store chain has a market cap of about $9.3 billion.
“The quarter started off positive in August with another successful back-to-school season and ended strong in October,” CEO Michelle Gass said in a statement. “We enter the holiday period with momentum and are strategically increasing our investments…”
Read the full press release here.
This is a developing story. Please check back for updates.
