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Kohl's warns on earnings, sees softer sales

Department store Kohl's warned investors on Tuesday that it expects its earnings this year to come in at the low end of its prior guidance, which was previously $4.05 to $4.45 per diluted share.

Following the report, Kohl's shares fell in premarket trade. (Click here to track its shares before the opening bell.)

A Kohl’s department store in Jersey City, New Jersey.
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A Kohl’s department store in Jersey City, New Jersey.

For the fiscal year ending in January, analysts expect the retailer to deliver earnings of $4.16 per share, according to a consensus estimate from Thomson Reuters.

The retailer forecast that comparable sales would drop 1.4 percent during the third quarter. Its sales this month have been softer than the rest of the quarter.

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E-commerce sales should continue to provide a bump to the retailer and rise more than 30 percent, Kohl's said.