Kohl’s Corp (NYSE:KSS) fourth-quarter sales came in below expectations, but the decline in its total sales and comps decelerated sequentially, according to Telsey Advisory Group’s analyst Dana Telsey
The Kohl’s Analyst: Telsey reiterated a Market Perform rating, while cutting the price target from $23 to $17.
The Kohl’s Thesis: The company’s net sales declined 3.9% year-on-year, and comps declined 2.8%, mainly due to a decline in store transactions and pressure from winter storms in January, Telsey said in the note.
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“Despite the sales …