What's Going On With Kohl's Stock?

Kohl's Corp KSS shares are trading higher Tuesday after the company reported preliminary third-quarter results and announced a CEO transition.

Kohl's said it expects third-quarter revenue to decrease 7.2% year-over-year, while comparable sales are expected to decrease 6.9%. The company anticipates third-quarter earnings of 82 cents per share and operating margins of 4.7%.

Kohl's also announced that CEO Michelle Gass plans to step down as CEO and a member of the Kohl's board, effective Dec. 2. The board has appointed Tom Kingsbury to serve as interim CEO until a permanent successor is named. 

"I'm proud and humbled to take the Interim CEO role during such an important time for the Company. Despite a challenging economic environment, Kohl's is well positioned for long-term success with its unique off-mall store footprint, omnichannel presence, and loyal customer base," Kingsbury said.

Kohl's is scheduled to report its third-quarter financial results on Nov. 17.

From Last Month: Activist Investor Urges Kohl's To Change Board Members: Report

KSS Price Action: Kohl's has a 52-week high of $64.37 and a 52-week low of $24.61.

The stock was up 8.9% at $29.24 at time of publication, according to Benzinga Pro.

Photo: hattiesburgmemory from Flickr.