Kohl’s Corp. has adjusted its full-year sales outlook due to a decrease in consumer spending on apparel and footwear. As a result, the company's stock has dropped by 11% during premarket trading in New York.
The challenges faced by the retail giant reflect broader difficulties in the clothing and shoe sectors as consumer preferences change.
Kohl’s shares have experienced a significant decline of 36% year-to-date, in contrast to the 26% gain seen in the Russell 1000 Index.