Shares of Kohl’s Corporation (NYSE:KSS) tumbled 11 percent Thursday after the retailer’s revenue came in just shy of Wall Street expectations–even as its profit beat forecasts, rising 2 percent from a year ago. The stock plunged around to as low as $65.80 after the company’s same store sales, a key metric in the retail sector, rose 1.4 percent last quarter, below analysts’ forecasts of 2.6 percent.
Harsh winter weather has traditionally effected Kohl’s more than other retailers, says Jessica Bornn, senior merchant at Merchant Forecast. “Historically, Kohl’s has been the retailer that’s most sensitive to weather,” Bornn said. “We think the same-store sales miss was a blip last quarter, and that the second quarter will be excellent for them.”
Kohl’s has improved its fashion offerings and has increased its athletic wear, Bornn said. The Menomonee Falls, Wisconsin, company also announced in February a partnership with upscale skin-care brand Bliss to add products to its beauty assortment.
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