Kohl’sThe retailer is under pressure to sell as activists push for final, fully-financed bidding.

Michelle Gass, Chief Executive Officer of Kohl’s stated Kohl’s is “pleased” to work with many parties.

Also, the company posted an enormous earnings slip for its first-quarter. It also lowered its outlook for this year. Gass stated in a press release that 2022 began below her expectations.

Gass stated in a press release that April saw sales decline because of macro headwinds resulting from the inflationary environment and lapping last year’s stimulus.

Kohl’s expects adjusted fiscal 2022 earnings per share between $6.45 and $6.85, as opposed to its previous forecast of $7.00- $7.50.

The forecasted net sales will be up to 1% over year-ago levels, as opposed to prior guidance that was between 2% and 3%.

This is how Kohl’s performed in three-months ending April 30, as compared to what Wall Street expected, according to Refinitiv analysts.

• Average adjusted earnings per share are 11 cents, compared to 70 cents.
• Revenue: $3.72Billion, compared to $3.68B expected

Kohl’s has the complete press release. here.

This is a developing story. Keep checking back for more updates.