Still, CEO Michelle Gass said the results exceeded Kohl's internal expectations, thanks to robust digital sales growth.
"We entered the holiday season well-positioned," she said.
Its shares were falling less than 1% in premarket trading.
Here's how the retailer did during the third quarter ended Oct. 31 compared with what analysts were expecting, based on Refinitiv data:
- Earnings per share: 1 cent, adjusted, vs. a loss of 43 cents expected
- Net sales: $3.78 billion vs. $3.86 billion expected
For the quarter ended Oct. 31, the company reported a net loss of $12 million, or 8 cents per share, compared with net income of $123 million, or 78 cents per share, a year ago. Excluding one-time charges, Kohl's earned a penny a share, better than the 43-cent loss expected by analysts.
Kohl's net sales fell to $3.78 billion from $4.36 billion a year ago. Analysts were calling for $3.86 billion, according to Refinitiv estimates.
As of Monday's market close, Kohl's shares are down about 49% this year. Kohl's has a market cap of $4.1 billion.
This story is developing. Please check back for updates.