Kohl's down after second-quarter sales miss

Shares of department store chain Kohl's fell about 7% to $16.47 in premarket trading after the company missed second-quarter sales estimates, as cautious consumer spending on discretionary items offset gains from the high-end department chain's turnaround push.

Quarterly revenue fell 0.9% to $3.32 billion from a year ago, versus estimates of $3.35 billion, according to data compiled by LSEG.

Kohl's narrowed its annual net sales and comparable sales forecasts, and now expects them to be flat to down 1.5%, versus a previous range of flat to a 2% decline.

However, it raised its FY2026 adjusted EPS forecast to $1.80 to $2.40, from a prior forecast of $1 to $1.60, after benefiting from $150 million in tariff refunds received in the second quarter.

The company also said it will resume its about $100 million share repurchase program this year.

As of the last close, KSS was down 13% year to date.