Kohl's: closes stores and cancels targets

(CercleFinance.com) - On Thursday evening, department store chain Kohl's announced the closure of all its stores in the United States, at least until 1 April, while maintaining the operation of its online distribution platforms.


Given uncertainty resulting from the coronavirus pandemic and its impact on its business, the retail group also says that it is cancelling its Q1 and FY targets that it announced on 3 March.

In addition, as a precaution, Kohl's has decided to modify its capital allocation plan for 2020, reducing capex, coupled with a temporary suspension of share repurchases and an evaluation of its dividend program.


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