Shares of Kohl's (KSS) plunged on Thursday after reporting a surprise loss in the first quarter. The retailer also cut its full-year guidance. In the release, CEO Tom Kingsbury says, "Our first quarter results did not meet our expectations and are not reflective of the direction we are heading with our strategic initiatives." In the video above, Yahoo Finance's Seana Smith and Brad Smith discuss the retailer's struggles. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.
As the trading day comes to an end, here's a preview of key events to watch for on Thursday, May 30th. Earnings reports from various retailers are due for release, including Costco (COST), Dollar General (DG), and Kohl's (KSS). These reports will provide valuable insights into the current state of the consumer and the overall health of the retail sector. Additionally, Fed commentary will be delivered by New York Fed President John Williams and Dallas Fed President Lorie Logan. Their remarks will offer clues about the potential for future Fed rate cuts. Furthermore, the first revision of the first quarter GDP figures will be released. This revision will provide an updated assessment of the economy's performance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
The department store’s shares are tumbling after Kohl’s lowered fiscal-year earnings and sales guidance.