...another CRASH. Kohls is a US departmental store. BREAKING:...

...another CRASH. Kohls is a US departmental store.

BREAKING: Kohls stock, $KSS, falls 25% after unexpectedly reporting a net LOSS of $27 million in Q1 2024.

Revenue came in at $3.18 billion, below expectations of $3.34 billion, down 5.3% year-over-year.

The company also lowered 2024 guidance as they now expect full-year net sales to decline between 2% and 4%.

“We recognize we have more work to do in areas of our business,” CEO Tom Kingsbury said.

More evidence that consumers are weakening.

https://x.com/KobeissiLetter/status/1796166382125506751