Kohl's Faces Major Stock Decline After Disappointing Q1 Earnings

The retailer's stock drops over 25% as it reports a surprise loss and lowers its annual forecast amid weak consumer demand.

Kohl's reported a 5.3% drop in net sales and a 4.4% decline in comparable sales for Q1.
The company’s stock experienced its worst day of the year, falling to its lowest value since November.
Inflation and high interest rates have pressured middle-income shoppers, affecting Kohl's sales.
Despite partnerships with brands like Sephora and Babies 'R' Us, Kohl's strategic initiatives have yet to yield significant results.
The company has faced a long-term decline, with a 16.8% drop in sales since 2019 and a loss of approximately 1.5 million customers.