Kohl’s CEO Fired, Interim Bender Faces Ongoing Struggles

Kohl’s reported a narrower-than-expected first-quarter loss of $0.13 per share on $3.23 billion in revenue, surpassing analyst estimates and reaffirming its full-year guidance amid ongoing challenges. Comparable store sales fell 3.9%, continuing a multi-year decline, while gross margin and operating income saw slight year-over-year improvement. Shares initially rose on the earnings news but quickly lost momentum, and the stock remains down over 40% year-to-date. CEO Ashley Buchanan was fired for cause after less than four months following an investigation into business dealings with a vendor tied to a personal relationship. Interim CEO Michael Bender is now leading efforts to enhance omnichannel experiences and complete the Sephora rollout as the company continues to close stores, lay off employees, and face governance criticism. Analysts remain divided on Kohl’s turnaround and long-term prospects.