Why Kohl's Stock Was Falling Earlier Today
Shares of Kohl's (NYSE: KSS) were down 6% as of 12:43 p.m. ET on Thursday after the company reported results for the second quarter. The stock has fallen 35% year to date.
In the most recent quarter, revenue declined 8% year over year, which management blamed on a weakening economy and lower consumer spending.
Investors have seen the weak performance coming; several analysts had downgraded the stock in recent weeks. Similar to what other retailers have reported, management said it is adapting to an environment in which people are making fewer shopping visits.
Source Fool.com
