- Kohl’s withdrew its guidance for the year, citing a volatile retail environment and economic pressures.
- The retailer said earlier this month that CEO Michelle Gass would step down in December.
Kohl’son Thursday withdrew its full-year outlook, pointing to volatility in the retail environment and significant macroeconomic headwinds, on top of its “unexpected CEO transition.”
Earlier this month, Kohl’s said Chief Executive Michelle Gasswould leave in December. She will join Levi Strauss to be its CEO in waiting.
Kohl’s reported third quarter earnings on Thursday, with revenue dropping 7% to $4.28 billion.
Shares of the company fell 4% in premarket trading.
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