Shares of retailer Kohl’s (NYSE:KSS) are rising today after the company announced preliminary third-quarter numbers along with changes in its top rung.
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Michelle Gass, the CEO of Kohl’s is stepping down and Tom Kingbury will take up the post in the interim until the company’s Board zeroes in on a new candidate for the role.
Further, the company noted that comparable sales decreased 6.9% year-over-year during the third quarter. While operating margin came in at 4.7%, EPS at $0.82, despite the decline in revenue, far outpaced the Street’s estimates by $0.19.
The company’s full third-quarter print is anticipated on November 17. Despite today’s price gain, Kohl’s shares are still down 42.5% year-to-date.
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