KEY TAKEAWAYS Kohl's stock is plummeting 17% in premarket trading after it reported weaker-than-expected third-quarter earnings Tuesday, the day after it announced that CEO Tom Kingsbury would stepping down after less than two years running the struggling retailer.

Kohl’s stock tanks after yet another sales miss, as the retailer’s core apparel and shoes businesses remain weak.

Kohl's stock is sinking Tuesday after the retailer missed Q3 earnings expectations, slashed its full-year outlook and announced a C-suite shakeup.

KSS gapped to a fresh four-year low of $14.53 earlier, after running into familiar overhead pressure at the $19 level. Shares have also struggled with resistance at the 40-day moving average since late October, and are pacing for their worst single-day percentage drop since February. So far this year, KSS has shed more than 48%.

Kohl’s stock fell in after-hour trading Monday following the department store’s announcement that CEO Tom Kingsbury is retiring at the end of the year. The company has named Ashley Buchanan, current CEO of Michaels,

Kohl's announced that CEO Tom Kingsbury is stepping down in January. He will be replaced by Ashley Buchanan, the current chief executive of arts and crafts retailer Michaels.

Shares of Kohl’s plummeted in premarket trading Tuesday after the retailer missed third-quarter earnings and revenue targets, and slashed its guidance. Adjusted earnings per share were reported at 20 cents,