Nov 26 (Reuters) - Kohl's (KSS.N), opens new tab surprise CEO departure announcement a day before its quarterly results will play on the minds of investors, who were looking out for a positive forecast from the struggling department store chain ahead of ...

Kohl's on Tuesday said it expects sales to be down 7% to 8% for the year, which is the third quarter in a row the company has changed its expectations on its performance. The Menomonee Falls-based retailer reported a profit of $22 million for the quarter,

Kohl’s surprise CEO departure announcement a day before its quarterly results will play on the minds of investors, who were looking out for a positive forecast from the struggling department store chain ahead of the key holiday shopping season.

Kingsbury will remain with Kohl’s in an advisory role to Buchanan and stay on the board until he retires in May.

Kohl's cut its annual sales forecast for the third time this year on Tuesday, in a sign the department-store chain is struggling to draw in shoppers ahead of a deal-heavy holiday shopping season.

Kohl's reported disappointing Q3 earnings as sales in key segments lagged expectations, prompting a downward revision of its full-year outlook.

Kohl’s has appointed former Walmart executive Ashley Buchanan as chief executive as the department store aims to lure back its value-seeking customer base amid falling sales.

Kohl's on Tuesday forecast a bigger drop in annual sales than previously expected, a sign the department-store chain is struggling to draw in shoppers as it navigates a CEO change ahead of a deal-heavy holiday shopping season.