Customers leave Kohl's store on November 12, 2015 in San Rafael, California.
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Kohl's earnings and sales for the last quarter are below analysts' estimates, the company said Tuesday. It also lowered its profit prospects for the whole year.
Its shares fell by more than 11% in pre-sale trading with news.
Here's how Kohl did for its fiscal third quarter compared to analysts' expectations based on Refinitiv data:
- Earnings per share: 74 cents, adjusted against 86 cents expected
- Revenues: $ 4.36 billion against $ expected 4.40 billion
- Same-store sales: 0.4% increase over 0.8% growth expected [1
Net income over the period ended November 2 dropped to $ 123 million, or 78 cents a share, up from $ 161 million, or 98 cents a share, a year ago. Excluding disposables, Kohl earned 74 cents per share, without expectations for 86 cents, based on Refinitiv data.
Net sales fell to $ 4.36 billion from $ 4.37 billion a year ago, missing expectations of $ 4.4 billion.
Sales at Kohl's Store opened at least 12 months and rose 0.4% from its website, with no expected 0.8% growth.
"The quarter began positively in August with another successful back-to-school season and ended strongly in October," said Executive Director Michel Gus. "We are entering the holiday period with inertia and strategically increasing our investments."
Gus said "investing in the short term" should help the company "manage profitable growth in the long term."
The entire department The retail sector was hit by intense pressure this year and focused specifically on the holiday season Brands like Nike invest more in their stores and website to sell goods away from middlemen Companies like Kohl's, Macy's and JC Penney need to look for new ways to win buyers.  Kohl launched some of her own brands and relies on celebrity partners to make noise, and last month she launched a home goods line designed by HGTV "Property Brothers" stars Drew and Jonathan Scott, called Scott Living. He also began selling a new pet brand in partnership with renowned comedian and television presenter Ellen Degeneres, called the ED Ellen DeGeneres Pets Collection, for costumes and toys.
In 50 stores it tests pop-up markets where younger brands will spin and exit. In 200 stores, she adds “beauty impulse” zones, showcasing 20 top beauty brands.
Kohl's shares near the end of the market on Monday fell approximately 12% this year. The department store chain has a market cap of about $ 9.3 billion.
Read the full press release here.