UPDATE: Kohl's Q3 Profit Misses Street View

Shares of Kohl's KSS fell more than 1.5% in pre-market trading after the company reported weaker-than-expected fiscal third-quarter profit. The Menomonee Falls, Wisconsin-based company posted quarterly net earnings of $142 million, or $0.70 per share, compared to $177 million, or $0.81 per share, in the year-ago quarter. Its total sales declined to $4.374 billion from $4.444 billion. However, analysts were expecting earnings of $0.74 per share on revenue of $4.41 billion. The company's same-store sales declined 1.8% in the third quarter, versus a 1.6% drop in the year-ago period. Kohl's gross margin shrank to 37.2% from 37.5%. Kohl's ended the third quarter with 1,163 stores in 49 states, versus 1,158 stores last year. Kohl's shares fell 1.57% to $57.00 in pre-market trading.