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Kohl's Stock Jumps on Huge Earnings Beat

TheMotleyFool

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Kohl's Stock Jumps on Huge Earnings Beat

Shares of Kohl's (NYSE: KSS) lost about three-quarters of their value in the first three months of 2020, as investors panicked due to the COVID-19 pandemic's onset. However, Kohl's quickly stabilized its finances, enabling a partial recovery for the stock. More recently, Kohl's stock has rallied on growing optimism that highly effective COVID-19 vaccines will become widely available next year.

Kohl's earnings report on Tuesday showed that the retailer didn't need to wait for the pandemic to end to improve its operating performance. Kohl's shares surged more than 11% after the company easily surpassed analysts' expectations for a significant quarterly loss.