Kohl's Expects FY23 Sales Decline Of (2.8%) to (4%) Versus Prior Expectation Of (2%) to (4%)
Portfolio Pulse from Benzinga Newsdesk
Kohl's has updated its FY23 sales forecast, now expecting a decline of (2.8%) to (4%), compared to its previous projection of (2%) to (4%). This revision indicates a slightly more pessimistic outlook for the company's sales performance in the fiscal year 2023.
November 21, 2023 | 12:04 pm
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Kohl's has revised its FY23 sales forecast to a larger decline than previously anticipated, which may negatively impact investor sentiment and the stock price in the short term.
The revision of the sales forecast by Kohl's to a larger decline is a negative signal to the market, suggesting that the company is facing headwinds that could affect its financial performance. Investors typically react unfavorably to downward revisions in sales forecasts, which can lead to a decrease in stock price as market expectations adjust to the new information.
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