LOS ANGELES, Oct. 20, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy Kohl’s Corporation (“Kohl’s” or the “Company”) (NYSE: KSS) announces that it has filed a class action lawsuit on behalf of investors. Kohl’s investors who lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: [email protected] to discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

The lawsuit alleges that the defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies throughout the class period. In particular, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Kohl’s strategic plan was not well tailored to achieve the Company’s stated goals; (ii) the defendants also overstated the Company’s success in implementing its strategic plan; (iii) Kohl’s had inadequate disclosure controls and procedures, internal controls over financial reporting and corporate governance mechanisms; (iv) as a result, the Company’s Board of Directors was able to withhold from shareholders material information regarding the condition of Kohl’s in advance of the Company’s annual meeting; (v) all of the foregoing, if discovered, would be likely to have a material adverse effect on Kohl’s financial condition and reputation; and (vi) as a result, the Company’s public statements have been materially false and misleading at all relevant times.

On May 19, 2022, Kohl’s issued a press release announcing the company’s results for the first quarter of fiscal 2022, which included, among other things, net sales expected to be just 1% (compared to Wall Street consensus growth of Q1 .94%) and earnings per share increase from $0.11…