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Kohl’s reduces annual profit outlook heading into holidays

FILE – In this Aug. 28, 2018, fie photo, a Kohl’s sign is shown in front of a Kohl’s store in Concord, N.C. Kohl’s Corp. cut its full-year profit outlook on Tuesday, Nov. 19, 2019, after reporting disappointing third-quarter results.  (AP Photo/Chuck Burton, File) NYCD309 NYCD309

NEW YORK (AP) — Kohl's Corp. on Tuesday cut its full-year profit outlook after reporting disappointing third-quarter results. The reduced outlook sent shares down nearly 18%. The weaker outlook also raised concerns about the overall department store sector, which has been wrestling with shoppers’ increasing shift to online. Kohl's also seeing more competition from discount...

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