(Corrects paragraph 3 to say net loss of “$3.52” per share and not “$3.50” after company adjusts the number while preparing its quarterly filing)
May 19 (Reuters) - Kohl’s Corp reported a nearly 44% slump in quarterly net sales on Tuesday, as the department store chain’s stores remained shut for most of the first quarter due to the COVID-19 lockdowns.
Net sales fell to $2.16 billion from $3.82 billion a year earlier.
For the quarter ended May 2, the company reported net loss of $541 million, or $3.52 per share, compared with a profit of $62 million, or 38 cents per share, a year earlier.
Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur