Why Kohl's Stock Was Slipping Today
Shares of Kohl's (NYSE: KSS) were sliding today after the department-store chain turned in an underwhelming holiday sales report and tamped down full-year profit expectations. As a result, the stock was down 8.9% as of 12:17 p.m. EST.
Comparable sales at the retailer dipped 0.2% in November and December, compared to expectations of 0.4% growth for the full fourth quarter, which includes January. Though Kohl's outperformed department-store peers like Macy's and J.C. Penney, the numbers were disappointing, especially since the company had expanded its Amazon returns program to stores nationwide this summer, which was expected to lift traffic during the key holiday season.
Image source: Kohl's.
Source Fool.com
