1110 ET - Kohl's CEO Ashley Buchanan says on a call with analysts that lower-income shoppers are feeling constrained. A decent portion of the department-store chain's customers make less than $100,000 annually, he says, which amounts to a headwind from a macroeconomic perspective. These customers are seeking value. "You see it in the mix of the product we're selling, and you see it in the promotions that we are doing," Buchanan says, adding that he expects value seeking to expand across income cohorts over the next three to four months. The company's outlook--which calls for 2025 sales to fall 5% to 7% on a reported basis and 4% to 6% on a comparable basis--assumes a weaker consumer and uncertain macro environment, Buchanan says. Shares tumble 21%. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 11:10 ET (15:10 GMT)
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