Department store chain Kohl’s Corp. (NYSE: KSS) reported a net loss for the second quarter of 2020, compared to profit last year. The results surpassed estimates and the company’s stock gained Tuesday morning.
The company reported a loss of $0.25 per share for the July quarter, compared to earnings of $1.55 per share last year. Analysts were looking for a wider loss.
Net income was $47 million or $0.30 per share, sharply lower than $241 million or $1.51 per share reported in the second quarter of 2019.
The dismal bottom-line performance reflects a 23% fall in revenues to $3.4 billion. Revenues, meanwhile, topped the Street view.
“During the second quarter we made significant progress in rebuilding our business. We reopened all of our stores with new safety and operating procedures, accelerated digital growth, and showed great discipline in managing inventory and expenses meaningfully lower,” said CEO Michelle Gass.
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
