Kohl's stock sinks after holiday-period same-store sales growth decelerates
Shares of Kohl's Corp. sank 7.8% in premarket trade Thursday, after the retailer raised its full-year profit outlook but reported a deceleration in holiday-period sales growth. Same-store sales for the November-to-December period rose 1.2% from a year ago, compared with growth of 6.9% in the same period last year. The company said digital sales grew in the double-digit percentage range. Kohl's raised its fiscal 2018 earnings per share guidance range to $5.50 to $5.55 from $5.35 to $5.55, citing "strong" holiday sales performance. The FactSet EPS consensus is $5.51. The stock has slipped 2.3% over the past three months through Wednesday, while the SPDR S&P Retail ETF has lost 6.1% and the S&P 500 has declined 7.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.