Kohl's plunges after cutting guidance, swapping CEO
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Kohl's Corporation shares dropped 17% after the company lowered its full-year outlook due to weaker sales in Q3. The CEO, Tom Kingsbury, is stepping down. Net sales fell 8.8%, with comparable sales down 9.3%, despite strong performances in certain segments.
November 26, 2024 | 6:15 pm
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Kohl's shares fell 17% after the company cut its full-year guidance due to weaker Q3 sales. The CEO's departure adds to the uncertainty.
The significant drop in Kohl's stock price is due to the company's reduced full-year outlook and the CEO's departure, which creates uncertainty. The decline in sales, particularly in apparel and footwear, further pressures the stock.
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