Baird downgraded Kohl's (NYSE:KSS) to "neutral" from "outperform" after the company's weak third quarter and noted the ongoing pressure in its core apparel and footwear business, among notable challenges.

Kohl's reported disappointing Q3 earnings as sales in key segments lagged expectations, prompting a downward revision of its full-year outlook.

Kohl's (NYSE: KSS) Q3 2024 Earnings Call Nov 26, 2024, 9:00 a.m. ET Thank you for standing by. My name is Brianna, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Kohl's Corporation third quarter 2024 earnings conference call. Please note that this call is being recorded.

Financial struggles at Kohl's Corporation lead to a 37% stock drop in 2021. Read why KSS stock is downgraded to Hold.

Analysts expect Kohl’s to report quarterly earnings at 27 cents per share. That's down from 54 cents per share a year ago. The Menomonee Falls, Wisconsin-based company projects to report quarterly revenue of $3.71 billion, compared to $3.84 billion a year earlier, according to data from Benzinga Pro.

The Zacks Consensus Estimate pegs anticipated revenue at $3.8 billion, a 5.3% decline from last year's third-quarter revenue, with analysts saying Kohl’s (NYSE: KSS) continues to “face significant challenges due to a tough macroeconomic environment.”

Kohl's Corporation KSS shares tumbled as much as 18.5% in the pre-marketing session as the company posted dismal third-quarter fiscal 2024 results and lowered its full-year outlook. The company’s top and bottom lines decreased year over year and missed the Zacks Consensus Estimate.

Omni-channel retailer Kohl’s ($KSS) has announced that its CEO, Tom Kingsbury, will be stepping down on Jan. 15, with retail veteran Ashley Buchanan taking over the reins. Kingsbury will stay on in an advisory role to the new chief executive and will retain his position on the board through his retirement in May 2025,