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.
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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