Kohl’s Corporation (NYSE:KSS) stock traded lower in Wednesday’s premarket session after the retailer reported a decline in comparable sales.
During the earnings call, Kohl’s said its core low- and middle-income customers remained “choiceful” about discretionary purchases amid “persistent financial pressures from inflation.”
CEO Michael Bender said the company expects “this economic backdrop to continue” through the rest of the year.
To navigate the pressure, Kohl’s plans to introduce holiday merchandise earlier to “capture demand early.” The retailer will also emphasize value and offer a “compelling assortment.”
Bender added that Sephora at Kohl’s faced headwinds during the second quarter, with sales declining 4%.
