Kohl’s Corp. on Monday said after the markets closed that it expects third-quarter comparable-store sales to fall 1.4 percent, noting that October sales have been softer than the balance of the quarter. Accessories, footwear and men’s are expected to report lower sales, while home and women’s are expected to underperform the company average, the company said.
The company also said that based on actual sales to date, it expects 2014 diluted earnings per share to be at the lower end of its prior guidance, which was $4.05 to $4.45 a diluted share. E-commerce sales are expected to increase over 30 percent.
The company will hold a call with investors on Wednesday to detail its new vision for multi-year growth.
Shares of Kohl’s Corp. closed down 0.9 percent to $58.55 in Big Board trading. The shares fell nearly 6.8 percent to $54.60 in early after-market trading following its warnings on earnings.