Kohl's net sales tanked 43.5% during the first quarter, the company said Tuesday, as its stores were forced temporarily shut due to the Covid-19 crisis.
The company said it will not be reporting its same-store sales results for the quarter due to temporary store closures.
"We entered the year in a strong financial position and our business was tracking to our expectations prior to the onset of the crisis," Chief Executive Officer Michelle Gass said in a statement.Here's how the company did during its fiscal first quarter, ended May 2:Analysts had been calling for the retailer to report a loss of $1.80 per share, adjusted, on revenue of $2.18 billion, according to Refinitiv data.
Kohl's said Tuesday that about half of its stores across the U.S. have already been reopened for business.
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