Retail

Kohl’s (KSS) reports Q2 2020 loss per share

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Kohl’s revenue fell 23% during the fiscal second quarter, the retailer said Tuesday, which wasn’t as bad as analysts feared as the coronavirus pandemic forced stores to close across the U.S. and many shoppers stayed home. 

Instead, dollars shifted online, and Kohl’s digital sales soared 58% compared with a year ago. Shoppers stocked up on workout gear, pajamas, toys and cozy clothing. Its online business made up 41% of total sales during the quarter, the company said, compared with 20% one year earlier. 

Still, the retailer offered a grim outlook ahead of the all-important holiday season, on the same morning big-box retailers Walmart and Home Depot reported results that crushed Wall…



Source cnbc.com

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