Kohl's Flags Sephora Sales Slump, Plans Early Holiday Push
KSS sits 56% above its 52-week low of $11.38 on elevated volume (1.8× avg).
Summary
On the Q2 earnings call, Kohl's CEO disclosed that Sephora at Kohl's sales fell 4% in the quarter and expects that softness to persist through year-end. The company also plans to bring seasonal goods earlier ahead of the holiday season to capture demand early, while warning that the challenging macroeconomic backdrop will continue. Additionally, Kohl's noted that lower-earning shoppers are feeling pinched. This adds a negative forward-looking detail to the already reported Q2 results and raised guidance, suggesting ongoing pressure on a key growth initiative.
At the time of this announcement, KSS was trading at $17.70 on NYSE in the Trade & Services sector, with a market capitalization of approximately $2B. The 52-week trading range was $11.38 to $25.22. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.