Kohl's Stock Goes Up as Investors Cheer New Growth Initiatives
Shares of Kohl's (NYSE: KSS) gained on Tuesday after the company gave a presentation to investors. Outlined in the presentation were the company's growth initiatives, including delving into athleisure and beauty products. It was a breath of fresh air for shareholders still down 60% year to date. Kohl's stock finished the day 7% higher.
Everyone's aware that 2020 has been a bad year for non-essential retail chains like Kohl's. But remember, Kohl's was struggling pre-COVID-19, with net sales falling 1.5% in 2019. The company needs something to drive revenue growth, and management believes it's found the answer. It will pursue active and athleisure apparel products and grow its beauty business.
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Source Fool.com
