Reuters2022-08-18
Aug 18 (Reuters) - Kohl's Corp cut its full-year profit forecast on Thursday, squeezed by steeper discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation.
The company said it expects 2022 earnings per share of $2.80 to $3.20, compared with its previous forecast of $6.45 to $6.85. Analysts on average expect a profit of $4.06 per share, according to Refinitiv IBES data.
Kohl's shares tumbled 10% after posting financial results.
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