Kohl’s Company (NYSE: KSS) Tuesday introduced monetary outcomes for the third quarter of 2024, reporting a year-over-year decline in gross sales and web earnings. The corporate additionally offered steering for fiscal 2024.
Third-quarter web gross sales decreased 8.8% year-over-year to $3.5 billion, with comparable retailer gross sales declining 9.3%. The highest line additionally missed analysts’ forecasts.
Internet earnings for the October quarter was $22 million or $0.20 per share, in comparison with $59 million, or $0.53 per share within the year-ago quarter. Earnings fell in need of expectations. For fiscal 2024, the administration expects web gross sales to lower by 7-8% whereas comparable gross sales are anticipated to lower by 6-7%.
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