Why Kohl's Stock Dived Again on Friday
Few investors are bullish about retail stocks just now, but the bears are really coming for Kohl's (NYSE: KSS). For the second time this week, on Friday the company's shares took a massive hit on the market, closing the day nearly 13% lower. The stock was battered by a slew of analyst price target cuts following an ugly quarterly earnings report.
On Thursday, Kohl's published a first-quarter earnings release that made almost nobody happy. On a 5% year-over-year decline in comparable sales, the company's revenue fell at a 4% clip to just under $3.72 billion. Non-GAAP (adjusted) net income came in at $14 million ($0.11), well down from the first-quarter 2021 result of $165 million.
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Source Fool.com
