'This is awful,' says CNBC's Jim Cramer, with Kohl's stock on pace for its worst session in nearly three years.
on Tuesday after the department store chain reported disappointing earnings and warned on forward guidance.," as shares of Kohl's tumbled more than 18%, on pace for their worst single trading day since January 2017.that fell below Wall Street expectations. It also cut its full-year profit outlook.
While Kohl's did not blame specific issues, CEO Michelle Gass said in a statement that the company is "investing in the short-term" in order to "drive profitable growth over the long-term.""Mad Money" host asked. "Listen, we're spending a lot of money. So far, the results aren't there. The results will be there."
In order to boost profitability, Kohl's has been launching its own brands and working with celebrity partners.
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