Kohl's drops as rising costs expected to hit margins

KSS

20/05/2021 17:20

(Updates)
    ** Kohl's Corp shares  KSS.N  tumble as much as 12.9%,
touching a near three-month low at $52.50 after co warns of a
hit to profit margins from higher labor and shipping costs
    ** KSS last down 11.5%, dipping below its 100-day mov. avg
price for the first time since Nov. and set for its worst day in
over nine months
    ** Department store operator's stock also biggest pct loser
on the S&P 1500 Retailing index  .SPCOMMS      
    ** Co also expects to take a hit from selling fewer products
at full price due to intensifying competition as the economy
reopens  urn:newsml:reuters.com:*:nL3N2N72UY
    ** However, co beats Q1 sales and profit estimates and
raises full-year forecasts
    ** Rival Macy's  M.N  also closed lower on Tuesday despite
reporting better-than expected results and raising its forecasts
 urn:newsml:reuters.com:*:nL3N2N52WJ
    ** Macy's and Nordstrom  JWN.N  down 3.6% and 5.6%
respectively on Thursday
    ** KSS up 31.8% YTD vs. 60.4% gain for Macy's and ~23% rise
for JWN

 (Reporting by Eva Mathews, Nivedita Balu and Uday Sampath in
Bengaluru)
 ((eva.mathews@thomsonreuters.com))