Kohl’s Corp. cut its full-year profit forecast and reported lower-than-expected quarterly results as the department store chain sold fewer full-price spring apparel and saw weak demand for home goods, sending its shares down as much as 14%.
Company executives, during a post-earnings call on May 21, called out higher tariff and logistics costs as well as aggressive promotions as reasons for the cut in outlook, which has pushed Kohl’s 2019 earnings well below analysts’ estimates.
