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Kohl's Corporation Q1 revenue falls 40 per cent

Kohl’s Corporation, a leading omnichannel retailer, reported 40.6 per cent decline in its first revenue decline to $2.4 billion compared to the revenue of $4.0 billion in same period prior year. The company reported a net loss of $541 million during the quarter compared to net income of $62 million in Q1 FY19.

Its selling, general and administrative expenses were $1.0 billion as against $1.2 billion in Q1 FY19. Operating loss were $718 million compared to operating income of $118 million.

The company recently reopened about 50 per cent of its stores across the country. In doing so, it has taken special care to equip its stores with the latest health and safety measures

 
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