Kohl's Corp forecast a bigger drop in annual comparable sales than expected on Tuesday, piling on more pressure on new boss Ashley Buchanan as he engineers a turnaround at the U.S. department store chain struggling with uneven demand.

Kohl’s cut its dividend and guided for another sales decline in fiscal 2025 that’s bigger than Wall Street had been expecting.

Kohl’s Corp.’s stock plunged 19% in early trading as the retailer’s turnaround struggles to gain traction. Comparable sales this year will drop as much as 6%, the retailer said on Tuesday. Analysts projected a decline of 0.