Kohl's shares tank 20% as CEO abruptly quits before crucial Black Friday kickoff
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Kohl's shares dropped 20% following the abrupt resignation of its CEO just before the critical Black Friday period. The company also reported a 9.3% decline in same-store sales, marking its eleventh consecutive decline.
November 26, 2024 | 3:15 pm
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Kohl's shares fell 20% after the CEO's sudden resignation and a reported 9.3% decline in same-store sales, marking the eleventh consecutive decline.
The abrupt resignation of the CEO before the crucial Black Friday period creates uncertainty and instability, likely leading to a negative short-term impact on the stock. Additionally, the continued decline in same-store sales further pressures the company's performance.
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