Kohl’s Corp. cut its earnings estimates for the year, and entered the long list of US companies warning that inflation at a high of 40 years is beginning to affect profit margins and consumer power.
The company’s share has fallen 11% this week as warnings about Walmart and Target profits have heightened concerns about a slowdown in the economy and the scale of retailer’s margins, rising costs.
The company expects adjusted earnings per share for the year 2022, at $ 6.45-6.85, compared to a previous estimate of $ 7-7.50.
Kohls stressed that it expects net sales for the year 2022 to increase by only 1% compared to the previous estimate of 2% -3%.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
