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Kohl's Stock Spirals on Earnings Miss, CEO Switch: What to Know

Kohl's (KSS) stock experienced a significant decline after the company reported disappointing first-quarter earnings and announced a CEO transition. The retailer missed Wall Street's expectations with an adjusted EPS of 13 cents, far below the anticipated 28 cents, and revenue of $3.57 billion, which was less than the expected $3.71 billion. Same-store sales also dropped by 4.3%, worse than the forecasted 1.6% decline. Amidst these financial setbacks, Kohl's announced that CEO Michelle Gass would step down, with Tom Kingsbury, a board member and former Burlington Stores executive, taking over as interim CEO. This leadership change comes at a challenging time as Kohl's also faces pressure from activist investors pushing for a sale of the company. The combination of poor financial performance and executive turnover has led to a sharp drop in investor confidence, reflected in the stock's price.

Read the Full Kiplinger Article at [ https://www.kiplinger.com/investing/stocks/kohls-kss-stock-spirals-on-earnings-miss-ceo-switch-what-to-know ]