Kohl’s lowers outlook as holiday same-store sales fall
Kohl’s Corp. joined Macy’s and J.C. Penney in reporting a decline in holiday same-store sales.
The retailer reported that its comparable sales for the holiday period (fiscal November and December) decreased 0.2% amid weakness in women’s apparel. Based on its holiday sales performance, Kohl’s said it now expects its fiscal 2019 diluted earnings per share to be at the low end of its previously announced guidance range of $4.75 to $4.95.
“We are managing the business with discipline and we expect to deliver on our earnings guidance for the full year,” said Michelle Gass, CEO, Kohl’s. “We continue to see momentum in key areas including our digital business, active, beauty and children’s, and solid performance in footwear and men’s. This was offset by softness in women’s, which we are working with speed to address.”