Baird downgraded Kohl's (NYSE:KSS) to "neutral" from "outperform" after the company's weak third quarter and noted the ongoing pressure in its core apparel and footwear business, among notable challenges.

Kohl's reported disappointing Q3 earnings as sales in key segments lagged expectations, prompting a downward revision of its full-year outlook.

Financial struggles at Kohl's Corporation lead to a 37% stock drop in 2021. Read why KSS stock is downgraded to Hold.