Newscasts - Kohl's raises forecasts again as turnaround takes root; shares jump

Kohls

25/11/2025 18:57

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Source: 'Reuters - Business videos'

Description: Kohl's on Tuesday projected a smaller drop in sales and bigger profit for the full year ahead of the new CEO's first holiday season at the helm, triggering a 31% surge in the U.S. department-store operator's shares in early trading. Alex Cohen has more.

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Video Transcript:

Shares of Kohl's skyrocketed 35% Tuesday morning after the retailer projected a smaller drop in sales and a bigger profit for the full year ahead. The company raised its annual forecast for the second time this year, signaling early success of its turnaround under new CEO Michael Bender. He was given the job permanently on Monday. Shares of Kohl's have more than doubled since Bender took on the interim CEO role in May. They also got a lift from the so-called meme stock euphoria in July. One analyst tells Reuters, "It’s still early in the holiday season, but the outlook suggests that Kohl's is somewhat optimistic. It seems like the business is stabilizing." Kohl's is adding more coupon-eligible products and investing in proprietary brands to attract value-focused shoppers. The retailer has also brought back fine jewelry and accessories to boost demand from its core and loyal customer base. Another retailer soaring today is Abercrombie & Fitch, which jumped 30% after it forecasts a strong holiday quarter and beat third quarter estimates. One analyst said it is benefiting from a denim boom as "shoppers focus their Dollars on retailers that can offer them a compelling mix of style and affordability."