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This Beaten-Down Stock Is Searching for a Lifeline. Has It Already Missed the Boat?

TheMotleyFool

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This Beaten-Down Stock Is Searching for a Lifeline. Has It Already Missed the Boat?: https://g.foolcdn.com/editorial/images/697255/kohls-pickup-source-kss.jpg

Rampant inflation continues to erase the limited recovery retailers made after the pandemic lockdowns forced stores to close and decimated their businesses. Kohl's (NYSE: KSS) is the latest victim of the pressure the retail industry is facing. Second-quarter revenue fell 8% to $4 billion and profits plummeted 63% to just $143 million because the company's middle-income customers are vanishing.

The department store also gutted its full-year guidance for the second time this year. It now expects sales to fall 5%-6% with earnings to be in the range of $2.80-$3.20 per share. Last quarter it reduced its full-year profit forecast to $6.45-$6.85 per share.

Image source: Kohl's.

Source Fool.com

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