Tuesday, May 19, 2020

Kohl's online sales surge amid lockdown, reopens about half of its stores

Yahoo Finance
Kohl's Corp reported a surge in online sales in its coronavirus-hit first quarter on Tuesday and said it had reopened nearly half its stores as lockdowns eased across the United States, sending its shares around 5% higher.

Kohl's was forced to close all its U.S. stores to curb the spread of the virus, hammering sales and sending shares in the retailer some 63% lower so far this year.

But the company said that online sales rose 24% overall in the quarter and more than 60% in April, dwarfing earlier growth as the chain limited operations to its app and website. . . . more