Kohl’s raises FY25 financial forecast, names Michael Bender as CEO
The company now forecasts a net sales decrease between 3.5% and 4% for the fiscal year, an improvement from previous guidance which anticipated a decline of between 5% and 6%.
Comparable sales are projected to fall between 2.5% and 3%, also representing a narrower drop compared with earlier expectations of a 4% to 5% decrease.
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Overall performance of Kohl in Q3 FY25
During the quarter ending 1 November 2025, Kohl’s reported net sales of $3.4bn, representing a year-over-year decrease of 2.8%, while its comparable sales fell by 1.7% over the same period.
Gross margin as a percentage of net sales increased by 51 basis points (bps) to reach 39.6%.
The company’s operating income for the quarter stood at $73m, compared to $98m in the prior year.
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By GlobalDataNet income came in at $8m, which translates to $0.07 per diluted share in Q3 FY25 compared with net income of $22m, or $0.20 per diluted share in the same period a year ago.
Selling, general and administrative (SG&A) expenses for Q3 dropped by 2.1% to $1.3bn versus the prior year period.
Kohl’s nine months performance
Over the nine months to 1 November 2025, Kohl’s registered net sales of $9.8bn, marking a decline of 4% from the comparable period in the previous year, while comparable sales dropped by 3.2%.
The company’s operating income for this period increased to $412m compared with $307m in the same period last year.
Net income for this period was $147m, up from $61m in the prior year period.
Kohl’s CEO appointment
The company’s board of directors have appointed Michael J. Bender as the CEO effective immediately on 24 November 2024.
Bender had been serving as interim CEO since May this year and has served as a board member since 2019.
Weeks after the leadership changes, the omnichannel retailer said that it will be accelerating its focus on reducing its debt and strengthening the company financially.
Michael J. Bender said: “We are pleased with Kohl’s third quarter results, marking a third consecutive quarter of delivering top-line and bottom-line performance ahead of our expectations. These results are a direct reflection of the progress we are making against our 2025 initiatives, reinforcing our confidence as we continue to move in the right direction.
“We are focused on building on this momentum, as we remain committed to delivering quality products, great value, and a frictionless experience to our customers in an uncertain macroeconomic environment.”
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