Shares of Kohl’s Corp., the U.S. department-store chain, fell Thursday after the retailer forecast full-year earnings that trailed analysts’ estimates.
Kohl’s dropped 5.9 percent to $49.11 at the close in New York, the biggest decline since Dec. 1.
Profit for fiscal 2012 will be $4.75 a share, the Menomonee Falls, Wisconsin-based company said in a statement. Analysts projected $4.93 a share, the average of 19 estimates compiled by Bloomberg.
Net income for the fourth quarter decreased 7.9 percent to $455 million, from $494 million, a year earlier, Kohl’s said. On a per share basis, profit rose to $1.81 because the number of outstanding shares decreased. That compared to the $1.80 average of estimates compiled by Bloomberg.
The company projected first-quarter earnings per share of 60 cents, while analysts predicted 78 cents, on average.
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