Kohl’s (KSS) said it has seen a surge in online sales in the first quarter, while the department store chain posted larger losses than the market expected due to store closures during the coronavirus pandemic.Online sales in the first quarter ended May 2 increased 24% and accelerated to more than 60% in April. Net sales in the reported quarter plunged 44% to $2.16 billion. The department store chain reported adjusted loss per share of $3.20, missing market expectations of a $1.80 loss.“We entered the year in a strong financial position and our business was tracking to our expectations prior to …read more
Source:: Yahoo Finance
