Kohl's Stock Plunges 10% Despite Earnings Beat: Time to Buy
On Thursday morning, Kohl's (NYSE: KSS) became the latest department store chain to report a big first-quarter earnings beat and raise its 2021 forecast. It also became the latest department store stock to tumble after posting excellent results.
To be sure, Kohl's management warned about potential near-term sales and earnings headwinds. Furthermore, the company still projects that full-year 2021 sales and earnings will remain below 2019 levels. Nevertheless, the 10% pullback in Kohl's stock Thursday looks like an overreaction in light of the growing fundamental strength of the business.
Kohl's stock performance data by YCharts
Source Fool.com