Kohl's Plummets 13 Percent After Missing Sales Growth Estimates

Kohl's Corp. (KSS) ended Thursday's trading day down 13.3 percent, making it TheStreet's Move of the Day. The retailer reported weak sales growth in its first-quarter earnings report, saying comparable store sales, a key industry metric, grew only 1.4 percent, significantly below the 2.5 percent growth FactSet was looking for. Revenue came in at $4.12 billion, missing expectations of $4.19 billion. The company reported earnings per share eight cents ahead of FactSet estimates. Kevin Mansell, Kohl's chairman, chief executive officer and president, said, 'Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February.' Shares of Kohl's are trading at $64.61 per share and are up 5.5 percent since the start of the year. This comes after Macy's (M) reported a decline in revenue and profits during its earnings report on Wednesday.