Kohl’s Corp. slashed its profit and sales outlook, piling onto an already tough week for retail companies as inflationary pressures cut into profits.
The department-store chain now expects full-year earnings per share, excluding some items, in the range of $6.45 to $6.85, Kohl’s said in Thursday in conjunction with its first-quarter earnings release. That’s down from a February forecast of $7 to $7.50. Sales are projected to be flat to up 1% this year, compared with the prior view of 2% to 3% growth.
