(Reuters] -Kohl’s Corp lowered the full-year earnings projection on Thursday. This was in line with other American retailers who warned that four-decades of high inflation is beginning to impact profit margins as well as consumer spending.

The company’s shares fell to $41.64 during premarket trading, after the company reiterated it was in discussions with many parties about a possible sale.

Walmart Inc. (NYSE:) Target Corporation (NYSE:) has reported a substantial drop in its quarterly earnings due to rising fuel and freight prices. They also warned that consumers are being forced to spend more on necessities because of the increasing costs.

The evidence of rising inflation saw a drop in stocks retail, and Kohl’s shares (NYSE: ) fell about 11% last week.

Michelle Gass, Kohl’s chief executive officer stated that April saw sales declines due to macro headwinds resulting from lapping the stimulus last year and an inflationary consumer climate.

It expects adjusted fiscal 2022 earnings of $6.45- $6.85 per ounce, as opposed to its earlier forecast of $7.00- $7.50.

Kohl’s net sales for the full year are expected to increase by as low as 1% in comparison to its prior forecast of a 2 to 3 percent rise.

Net sales at the company dropped 5.2%, to $3.47billion in April’s first quarter. According to data from Refinitiv, analysts had predicted $3.68 trillion.

Kohl’s earnings in the quarter reported fell by 90% to about 11 cents per share on an adjusted basis.