Kohl’s Reports Q1 Sales Losses

Kohl’s Corp. (Milwaukee, Wis.) announced Thursday that the chain saw big drops in sales. Comparable sales fell 3.9 percent over last year in quarter one.

CNBC reports that this was the chain's biggest drop for this metric since first quarter of 2009 when the company’s comparable sales fell 4.2 percent. The results surprised analysts who predicted a slight gain in comparable sales.

Kohl’s shares have dropped 9 percent hitting $36 early on Thursday. The company’s shares have not traded so low since March 2009.