With shoppers hunkered down at home, revenue dried up. So far, Stage Stores, J.C. Penney and Nieman Marcus have filed for bankruptcy protection, Lord & Taylor is expected to liquidate and Macy’s has been forced to raise billions of dollars to help it fund its operations during the downturn.
Kohl’s is not immune to the difficulties. The department store chain reported a nearly 44% drop in sales for the first quarter. Shares of the company reached a 52-week low on April 3 of $10.89, down from a high of $59.28 reached on Nov….