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Kohl's shares tumble on earnings miss, CEO to step down in January [FOX Business Network]
Last walmart inc. earnings: 2/18 06:00 am
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Kohl's shares fell sharply on Tuesday after the company's earnings missed Wall Street estimates and following its announcement that CEO Tom Kingsbury will step down in January. The weak forecast underscores an uncertain holiday season for the retail sector, which could lean in favor of competitors such as Walmart and Amazon.com as customers turn increasingly bargain-focused. "Our results did not meet expectations, and we're frankly disappointed sales have been a challenge for us throughout 2024 and weakened further in the quarter," outgoing CEO Tom Kingsbury said in a post-earnings call. Michaels CEO Ashley Buchanan will take over the company on Jan. 15, though Kingsbury will stay on in an advisory role and retain his position on Kohl's board through his retirement in May 2025. Buchanan, an industry veteran , has been leading Michaels Companies since 2020. Prior to that, Buchanan held senior executive roles at Walmart and Sam's Club. Kingsbury served as interim CEO after fo
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