Kohl's has revised its annual sales forecast downward, anticipating a 7% to 8% decline, amid weak holiday shopping demand and a leadership change. The company reported a 9.3% drop in comparable sales for the third quarter, marking its eleventh consecutive decline, as consumers gravitate towards bargain retailers. CEO Tom Kingsbury's unexpected exit comes just before the critical holiday season, with Ashley Buchanan set to take over in January.
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