Kohl's shares tumble on earnings miss, CEO to step down in January
Published On Nov 26, 2024, 10:31 AM
Kohl's is facing challenges with its sales, leading to a significant drop in its share price. CEO Tom Kingsbury announced his departure after the company's earnings fell short of expectations, further complicating the retail landscape during a crucial holiday season. Ashley Buchanan, currently the CEO of Michaels, will take over as CEO in January. Analysts express concern that Kohl's may struggle amid intense competition from larger retailers like Walmart and Amazon.