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.
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