Kohl's Stock Is Sliding Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Kohl's Corp (NYSE:KSS) shares are trading lower due to the announcement of a management transition, with the departure of president and COO Dave Alves effective Nov. 17. The company is expected to report Q3 financial results before the market opens on Tuesday, with an anticipated earnings of 33 cents per share on revenue of $4.111 billion. Kohl's has previously beaten analyst estimates in the first two quarters of 2023.
November 20, 2023 | 2:28 pm
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Kohl's Corp shares are trading lower after the announcement of president and COO Dave Alves' departure. The company is expected to report its Q3 earnings soon, which may influence the stock's performance further.
The departure of a high-level executive like the president and COO can create uncertainty among investors, often leading to a negative short-term impact on the stock price. However, the upcoming Q3 earnings report could mitigate or exacerbate this impact depending on whether Kohl's meets, exceeds, or falls short of expectations.
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