Kohl’s stock plummets 20% after massive earnings miss

- Kohl's reported a loss of 24 cents per share, compared to expected profit of 4 cents - Revenue was $3.18 billion, below expected $3.34 billion - Net sales decreased by 5.3% to $3.18 billion, with comparable sales down 4.4% - Kohl's lowered its 2024 guidance to predict a decline in net sales between 2% and 4% - Full-year diluted earnings per share are now expected to be between $1.25 to $1.85, much lower than expected $2.34 per share - Kohl's stock plummeted 20% after the earnings miss - Kohl's stock fell more than 20% after posting a quarterly loss and missing revenue expectations - The company's CEO attributed slower sales to tough comparisons and poor weather affecting seasonal merchandise sales - Kohl's net sales decreased 5.3% to $3.18 billion - Kohl's lowered its 2024 guidance, expecting full-year net sales to decline between 2% and 4% - The company reported a net loss of $27 million for the first quarter - Kohl's plans to open more Sephora and Babies R Us shops in its stores, with Sephora showing positive comparable sales of 20%