Kohl's sales for the holiday quarter came in well below Wall Street's expectations.
The retailer has been under intense pressure from activist investors.People shop at Kohl's department store amid the coronavirus outbreak on September 5, 2020 in San Francisco, California.shares sunk on Wednesday after the retailer posted a big loss and a sales decline of about 7% in the holiday quarter.
Here's how the retailer did for the quarter that ended Jan. 28 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:Revenue: $5.78 billion vs. $5.99 billion Kohl's also shared a weak outlook for the year ahead. It said it anticipates net sales to range between a decline of 2% and a decline of 4%, including the impact of the 53rd week of the year that is worth about 1% year over year. It said it expects diluted earnings per share to range from $2.10 to $2.70, excluding non-recurring charges.
The retailer has dealt with activist pressure, leadership changes and a more challenging economic backdrop.
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