Kohl's shocks investors reporting a not-too-bad quarter even after it fired its CEO just 100 days into the job

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Kohl's shocks investors reporting a not-too-bad quarter even after it fired its CEO just 100 days into the job

//business-finance.news-articles.net/content/202 .. it-fired-its-ceo-just-100-days-into-the-job.html

Published in Business and Finance on Thursday, May 29th 2025 at 11:40 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The retailer still reported a 4.1% year-over-year net sales drop, but that was better than what analysts expected.

- Click to Lock Slider

Kohl's shocked investors with a dismal earnings report on May 29, 2025, revealing a significant drop in same-store sales and a net loss for the quarter, leading to the abrupt firing of CEO Tom Kingsbury. The retailer reported a 9% decline in comparable sales, worse than the expected 5% drop, and a net loss of $120 million, compared to a profit of $30 million in the same quarter the previous year. The board cited poor strategic decisions and failure to adapt to changing consumer behaviors as reasons for Kingsbury's dismissal. In response, Kohl's stock plummeted 15% in after-hours trading, reflecting investor concerns about the company's future direction and leadership. The board has appointed interim CEO, Michelle Gass, to steer the company through this challenging period and work on a turnaround strategy.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/29/kohls-shocks-investors-earnings-report-ceo-firing/ ]