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Why Kohl's Stock Crashed 20% on Tuesday

TheMotleyFool

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Kohl's (NYSE: KSS) stock collapsed after the company reported mixed earnings for its fiscal third quarter of 2024 Tuesday morning, falling 20% in the first 10 minutes of trading, as of 9:40 a.m. ET.

Analysts forecast Kohl's would book $3.7 billion in sales for the third quarter ended Nov. 2, and Kohl's nailed that target. Unfortunately, they also forecast Kohl's would earn $0.27 per share -- but Kohl's earned only $0.20.

Adding to investors' distress, the CEO announced last night that he plans to resign effective Jan. 15.

Source Fool.com

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