Kohl's crumbles after weak report and guidance cut

|About: Kohl's Corporation (KSS)|By:, SA News Editor

Kohl's (KSS) reports comp store sales fell more than anticipated during FQ3 which cut into its profitability noticeably.

Gross margin as a percentage of total sales fell 60 bps to 37.5%.

The company says it expects total sales to drop 2% to 4% for its FQ4 and lowers it outlook for FY13 EPS to $4.08-$4.23 from $4.15-$4.35. (PR)

KSS -9.1% premarket.