Kohl’s misses earnings estimates

Kohl’s is heading into the holidays with a loss of momentum after third quarter same store sales declined 1.8% and the company missed analysts’ earnings estimate by four cents.



The third quarter comp decrease of 1.8% was on top of a prior year decline of 1.6%. Total sales at the operator of 1,163 stores declined slightly to $4.37 billion from $4.44 billion. Net income declined to $142 million, or 70 cents a share, from $177 million, or 81 cents a share.



The 1,163 stores Kohl’s operated at the end of the quarter was five more units than the company had in operation at the end of third quarter the prior year.