UPDATE: Kohl’s Posts Lower Q3 Profit, Cuts Outlook

UPDATE: Kohl’s Posts Lower Q3 Profit, Cuts Outlook

Kohl’s (NYSE: KSS) reported an 18% drop in its third-quarter profit.

Kohl’s quarterly profit declined to $ 177 million, or $ 0.81 per share, from a year-ago profit of $ 215 million, or $ $ 0.91 per share.

Its revenue dropped to $ 4.44 billion from $ 4.49 billion. However, analysts were estimating earnings of $ 0.86 per share on revenue of $ 4.55 billion.

Kohl’s also lowered its full-year profit forecast to a range of $ 4.08 to $ 4.23 per share, versus its earlier forecast of $ 4.15 to $ 4.35 per share. It projects Q4 earnings of $ 1.59 to $ 1.74 per share.

Kohl’s shares dropped 9.46% to $ 52.75 in pre-market trading.

Posted-In: profitEarnings News Guidance


Benzinga – Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals


Uncategorized

Leave a Reply

Your email address will not be published.