The CBO forecasts a 38% GDP decline in Q2, followed by a 22% rise in Q3.
with limited capacity on April 27, and it looks like the move is lifting sales.
The company plans to have more than 65% of its dining rooms reopened with limited capacity by the end of the month after closing all of them on March 20. The Dow Jones Industrial Average traded 94 points lower, or 0.4%. The S&P 500 slid 0.3% while the Nasdaq Composite hovered around the flatline. Read theKohl's quarterly net sales crater with stores forced shut during pandemicended May 2. The retailer said it has now reopened about 50% of its more than 1,100 locations across the country. But the coronavirus pandemic has put a new layer of pressure on the company, which was already struggling to grow sales.
"This decision follows months of working to identify a buyer who would continue to operate our business going forward," CFO Robert Riesbeck said in a statement. "Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.
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