In its latest earnings report, the retail chain that boasts 1,167 stores reported a massive earning drop of 87 percent.
Kohls also missed its sales targets and saw a 3.7 percent drop in year-over-year sales. Its stock price has declined 53 percent in the past year.
The culprit? Though online-only competitors are cutting into the retailer’s sales, the company blamed its marketing efforts.
“There are definitely some company-specific issues from a marketing perspective that we’re working on rectifying, so we know that affected our first quarter,” said Wesley McDonald, Kohl’s chief financial officer, on a recent conference call.