Kohl’s on Tuesday forecast a steeper decline in annual sales than previously expected, a sign that the department store chain is struggling to attract shoppers as it navigates a CEO change ahead of a busy holiday season.

Shares of the Menomonee Falls, Wisconsin-based company fell 18% premarket as the company also reported worse-than-expected third-quarter results.

The weak forecast underlines an uncertain holiday season for the retail sector, which is turning in favor of competitors such as: Walmart And Amazon.comas customers are increasingly keen on bargains.

Kohl’s, whose stock has fallen 36% this year amid its turnaround efforts, announced the resignation of CEO Tom Kingsbury a day earlier. He will be succeeded in January by Ashley Buchanan, retail veteran and head of Michaels Companies.

The company is now entering the critical and shorter holiday season, where retailers offer aggressive discounts to encourage consumers to purchase early in the season.

“Our third quarter results did not meet our expectations as sales in our apparel and footwear businesses remained weak,” said CEO Kingsbury.

Kohl’s launched a three-day Black Friday Early Access event between November 8th and 10th and is offering Black Friday deals between November 24th and 29th.

Strong beauty sales from the company’s collaboration with beauty retailer Sephora are also starting to fade as Kohl’s completes the opening of 140 Sephora retail stores this year.

“Sales really struggled when they (the company) completed the (Sephora) launch. “Basically, the low-hanging fruit seems to have disappeared,” said Matthew Jacob, science analyst at M.

Kohl’s comparable sales fell 9.3% in the quarter ended Nov. 2, its 11th straight quarter of decline. Analysts on average had expected a 5.1% decline, according to data compiled by LSEG.

It earned 20 cents per share, missing estimates of 28 cents.

The company now expects full-year net sales to decline in the range of 7% to 8%, compared to a previous forecast of a decline of between 4% and 6%.