Kohl’s Corp forecast a bigger drop in annual comparable sales than expected on Tuesday, piling on more pressure on new boss Ashley Buchanan as he engineers a turnaround at the U.S. department store chain struggling with uneven demand.
Shares of the apparel retailer fell 10per cent before the bell.
Kohl’s joins larger rival Macy’s and big-box retailers Walmart and Target in providing a cautious forecast as U.S. inflation risks rise and recession fears mount amid a chaotic implementation of President Donald Trump’s tariffs.
The squeeze comes as sales have been under pressure over the last three years as consumers turned to cheaper options at discount retailers including TJ Maxx parent TJX Cos.
The Menomonee Falls, Wisconsin-based company expects 2025 same-store sales to decline 4per cent to 6%, compared with estimates for a 0.9per cent drop, according to data compiled by LSEG.
