- Kohl's ( NYSE: KSS ) shares gained 12% Tuesday morning after the department store chain reported prelim Q3 results, expecting diluted earnings per share of $0.82 above consensus estimate of $0.63.
- Comparable sales, however, is expected to decline 6.9% Y/Y, with net sales down 7.2%. The retailer expects an operating margin of 4.7% for the quarter.
- Kohl's ( KSS ) plans to release its full third quarter 2022 financial results on Thursday, November 17.
- Additionally, the company announced CEO transition process. Current CEO Michelle Gass plans to step down from the role and as a member of the Kohl's board of directors, effective Dec. 2, 2022, to accept another opportunity.
- Tom Kingsbury will serve as interim CEO from Dec. 2 until a permanent successor is named. Kingsbury has served as a Kohl’s director since 2021.
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Kohl’s shares gain as Q3 earnings guided to be well above consensus, CEO quits