Kohl’s shares sink after quarterly earnings miss By Reuters November 19, 2019 | 10:40am Enlarge Image Shutterstock MORE ON: KOHLS Stocks surge as Christmas spared tariff price hikes Kohl's cuts profit estimates, sending its shares tumbling New Target to replace Toys 'R' Us in Brooklyn Macy's says sales getting a boost from its Backstage outlets Kohl’s cut its annual profit outlook on Tuesday ahead of the all-important holiday season, after the department store operator’s quarterly comparable sales and earnings missed analysts’ estimates, sending its shares down 12%. The company’s results come at a time when US department stores are struggling with changing consumer preferences and a shift to online shopping, leading to the bankruptcies of Sears and luxury retailer Barneys New York. As buyers increasingly shift online, Kohl’s earlier this year partnered with Amazon, allowing customers to return at its stores products bought on the online retailer’s website. The tie-up, through which Kohl’s aims to attract more shoppers, has been extended to all its 1,000 outlets in the United States following a successful pilot. The partnership could hurt Kohl’s profit and gross margin, with no guarantee of purchases when a shopper visits a store to return the order, analysts have said. Kohl’s said it now expects full-year adjusted earnings to be between $4.75 and $4.95 per share, compared to its previous forecast of $5.15 to $5.45. https://nypost.com/2019/11/19/kohls-shares-sink-after-quarterly-earnings-miss/