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. The company, which owns over 1,100 stores in the United States, had earlier withdrawn its full-year forecast, suspended share buyback plan and borrowed money to combat the pandemic’s impact. Department stores have been struggling even before the pandemic as consumers shift to online shopping and competition from fast-fashion brands add to the pressure. …read more
Source:: Yahoo Finance
