Kohl's stock fell more than 9 percent Thursday after the retailer reported quarterly results that fell short of analyst expectations.
The company posted adjusted first-quarter earnings of 31 cents a share on revenue of $3.97 billion. Analysts polled by Reuters expected Kohl's to report earnings per share of 37 cents on revenue of $4.13 billion.
The retailer's revenue fall was its first in six quarters and came amid a 3.9 percent fall in same-store sales.
"First quarter sales were challenging. Despite the sales environment, we were able to manage our gross margin and inventory levels consistent with our expectations as we took the markdowns necessary to clear excess inventory. We managed our expenses effectively throughout the quarter as every area contributed to our savings versus our plan," Kevin Mansell, Kohl's chairman and CEO, said in a statement.