A view outside a Kohl’s store on July 16, 2020 in Miramar, Florida.
Johnny Louis | Getty Images
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.
Its shares were up more than 1% in premarket trading on the news.
Here’s how the retailer did during its fiscal second quarter compared with what analysts were expecting, based on Refinitv data:
- Adjusted EPS: a loss of 25 cents vs. a loss of 83 cents, expected
- Revenue: $3.21 billion vs. $3.09 billion, expected
“As we look ahead, we are planning for the crisis to continue to impact our business in the near-term,” Chief Executive Michelle Gass said in a statement. “We are well-positioned to capitalize on evolving customer behaviors and the retail industry disruption, which we believe will drive long-term growth and increased market share.”
Kohl’s shares have fallen nearly 54% so far this year as of Monday’s market close. The company has a market cap of $3.7 billion.
Find the full earnings press release here.
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