Kohl's Could Make a Quick Comeback From COVID-19
Like other department stores, Kohl's (NYSE: KSS) was hit hard by the COVID-19 pandemic last quarter. As a nonessential retailer, it was forced to close all of its stores in mid-March. And while Kohl's has a healthy, growing digital business, it isn't nearly big enough to pick up the slack during a period of zero in-store sales.
However, Kohl's reacted quickly in March and April to mitigate the sales and earnings pressure from the pandemic. The company also improved its financial flexibility by issuing new debt and increasing the size of its credit line. Furthermore, it began reopening its stores in early May and has achieved surprisingly good results since doing so.
Image source: Kohl's.
Source Fool.com
