Kohl’s stock dives after profit outlook slashed, given actions to cut excess inventory, inflation pressure on middle-income customers
August 18, 2022 at 12:51 PM EDT
Shares of Kohl's Corp. took a dive Thursday after the home-goods retailer missed fiscal second-quarter profit expectations and slashed its full-year outlook, as high inflation hurt its middle-income customers and as it started taking action to reduce excess inventory.
