(Bloomberg) — Kohl’s Corp. reported first-quarter sales and earnings that fell short of estimates and lowered its guidance, as demand for apparel and home goods remained weak.

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Comparable sales, which measure the performance of stores open at least one year, fell 4.4% in the quarter ended May 4, according to a statement from the retailer. That’s below the average analyst estimate — the ninth consecutive decline. Revenue also missed expectations, and the company reported a loss instead of the profit analysts had forecast.

The stock tumbled as much as 21% in early New York trading. The shares have declined 5% so far this year, compared with a 9.7% gain for the Russell 1000 Index.

Kohl’s cut its guidance for the full year for earnings, revenue, comparable sales and operating margin.

The retail chain, which has partnered with cosmetics chain Sephora to draw in more customers, said the quarter’s results “did not meet our expectations and are not reflective of the direction we are heading with our strategic initiatives.”

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