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As Kohl’s shares plunge, Cramer calls out CEO for glossing over why earnings missed estimates

November 19, 2019


CNBC’s Jim Cramer ripped into Kohl’s on Tuesday after the department store chain reported disappointing earnings and warned on forward guidance.

“This is awful,” Cramer said on “Squawk on the Street,” as shares of Kohl’s tumbled more than 18%, on pace for their worst single trading day since January 2017.

Earlier Tuesday, Kohl’s reported third-quarter earnings and revenue that fell below Wall Street expectations and cut its full-year profit outlook.

While Kohl’s did not blame specific issues, CEO Michelle Gass said in a statement that the company is “investing in the short-term” in order to “drive profitable growth over the long-term.”

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