Kohl’s shares tumbled Thursday, despite the company reporting fiscal-first quarter profit and sales that exceeded expectations and hiking its full-year forecast.
It hinted at additional costs and supply chain headwinds that it may face in the remainder of 2021, as it bounces back from a falloff in shopper demand a year earlier, but uncertainty abounds. Kohl’s stock closed Thursday down about 10%.
The shares followed a similar trend as that of Walmart and Lowe’s, which both reported strong earnings results earlier in the week and then their stocks lose momentum throughout the day. Some investors are cautious about how long the fervent demand coming out of the pandemic will last, especially as stimulus checks are spent.CNBC