Kohl’s downgraded to Reduce at Gordon Haskett on sales worries, CEO exit

As previously reported, Gordon Haskett downgraded Kohl’s (KSS) to Reduce from Hold with a price target of $11, down from $20, citing incremental concerns looking to 2025 and 2026 and the departure of CEO Tom Kingsbury, which the firm views as “a loss for the company.” The firm, which says Sephora has been a bright spot for the company, worries that the tailwind from beauty could start to fade and also is more concerned that Kohl’s may need to cut its dividend next year if sales trends don’t improve quickly, the analyst tells investors.