Kohl’s (KSS) has lowered its annual forecast following weaker-than-expected third-quarter results, causing shares to drop by nearly 20%. The retailer also announced that CEO Tom Kingsbury will step down in January, after less than two years in the role. CFRA analyst Zachary Warring joins Morning Brief Co-hosts Seana Smith and Brad Smith to discuss the CEO transition and the company’s challenging months ahead. Warring notes that department stores are facing long-term headwinds, including the potential impact of President-elect Donald Trump’s proposed tariffs, which would impose an additional 10% tax on goods imported from China. Since apparel relies heavily on imports from China, Warring cautions that the sector is likely to be “hit the hardest.”
#youtube #news #stockmarket
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
