Kohl's Layoffs Signal Deeper Issues
It is easy to blame Kohl's (NYSE: KSS) problems on COVID-19. Admittedly, government stay-at-home orders and the retailer shutting its doors to the public for a time hurt recent results. In its fiscal second quarter, which ended on Aug. 1, revenue dropped by 23% to $3.4 billion.
However, taking a closer peek at past results, Kohl's sales were sluggish before the pandemic. After all, a company doesn't announce it will lay off 15% of its corporate workforce if it faces a temporary setback.
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Source Fool.com
