Kohl's Corp (NYSE:KSS) shares are trading lower Wednesday alongside several other retailers after Target Corp (NYSE:TGT) announced worse-than-expected earnings results.
- Target Revenue: $25.17 billion beat $24.37-billion estimate.
- Target EPS: $2.19 missed estimate of $3.07.
Target said it "faced unexpectedly high costs" in the quarter. The company's operating income margin rate came in well below expectations at 5.3% in the first quarter compared with 9.8% in 2021. Target shares were trading down by about 25% at press time.
Related Link: 'We Faced Unexpectedly High Costs': Why Target Shares Are Falling Today
Kohl's is scheduled to report its first-quarter financial results before the market opens on Thursday, according to data from Benzinga Pro.
KSS Price Action: Kohl's shares have traded between $43.67 and $64.80 over a 52-week period.
The stock was down 9.22% at $44.02 at time of publication.
Photo: courtesy of Kohl's.
