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Kohl's Q3 Sales Drop 8.8% as Ashley Buchanan Prepares to Become CEO [Yahoo! Finance]
Last walmart inc. earnings: 2/18 06:00 am
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In its last report to Wall Street before Buchanan steps in for current CEO Tom Kingsbury in January, the company turned in steep bottom- and top-line declines for the third quarter. More from WWD Change in Command: Kohl's Names Ashley Buchanan CEO to Succeed Tom Kingsbury DFS Group Is Shuttering the Fondaco dei Tedeschi Store in Venice How Kohl's Is Preparing for a Challenging Holiday Season Net income fell 63 percent to $22 million, or 20 cents a diluted share, down from $59 million, or 53 cents, a year earlier. Sales for the quarter ended Nov. 2 declined 8.8 percent to $3.5 billion with a 9.3 percent drop in comparable sales. EPS came in 7 cents below the 27 cents analysts projected and revenues were more than $200 million below expectations. Investors — reacting to both the CEO switch late Monday and the earnings report — sent shares of Kohl's down 16.5 percent to $15.32 in early trading on Tuesday. “Our third quarter results did not meet our expectations as sales
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