From CNBC: 2025-03-11 08:19:11

Kohl’s reported better-than-expected earnings and revenue for Q4 2024, but shares plummeted over 15% due to disappointing guidance for 2025. The company expects a 5-7% revenue decline and 4-6% comparable sales decrease, with earnings per share projected between 10 cents and 60 cents, missing Wall Street estimates.

Kohl’s named Ashley Buchanan as the new CEO to replace Tom Kingsbury, cut nearly 10% of its corporate workforce, and plans to close 27 underperforming stores by April. The company has seen its shares drop by over 50% in the past year as it navigates a challenging retail environment alongside other struggling retailers.

Kohl’s net sales for Q4 2024 were $5.18 billion, down from $5.71 billion in the same period in 2023. Full-year 2024 sales totaled $15.39 billion, a decrease from $16.59 billion in 2023. Quarterly comparable sales fell by 6.7% year over year, slightly better than the 6.8% decrease expected by Wall Street.

In Q4 2024, Kohl’s reported a net income of $48 million, or 43 cents per share, compared to $186 million, or $1.67 per share, in Q4 2023. Adjusted for costs related to impairments and store closures, earnings per share were 95 cents.



Read more at CNBC:: Kohl’s (KSS) Q4 2024 earnings