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Kohl reports the result for the first quarter of 2019



Kohls Tuesday missed the earnings expectations for the first quarter and lowered its outlook for the full year and sent its shares over 10%.

For the first time in two years, the dealer missed expectations of the same store sales, as its binding with Amazon and the emphasis on athletic clothing was not enough to bring shoppers to stores.

CEO Michelle Gass said that the year "started slower than we would like".

Kohls reported adjusted earnings of 61 cents a share of $ 4.09 billion in sales. Analysts demanded a profit per share of 68 cents on a turnover of $ 3.94 billion, based on refinitive data.

Sales in Kohls stores opened for at least 1

2 months, declining 3.4% while analysts demanded a decline of only 0.2%.

Kohl said it now expects adjusted earnings per share to range from $ 5.15 to $ 5.45, compared to a previous range of $ 5.80 to $ 6.15. Analysts had called for a profit of $ 6.04 per share.

The Kohls share was ultimately more than 11% in the pre-market news trade and has fallen by about 1.2% over the past 12 months.


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