Kohl's (KSS) falls after reporting a seventh-straight drop in comparable sales
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Kohl's trims sales forecast on weaker consumer spending, shares slump
November 21, 2023 7:08 AM ESTBy Granth Vanaik
(Reuters) -Kohl's lowered the top end of its annual sales forecast and said it would be aggressive with promotions in the crucial holiday season as cost-conscious shoppers spend less at its department stores, sending its shares tumbling 11% on Tuesday.
American consumers have continued to defer non-essential purchases and focused on buying essentials as rising credit card debt and higher interest rates squeeze wallets, while warmer weather in... More
