It has been an ugly retail earnings season so far. Aside from the usual suspects Walmart (WMT) and Target (TGT), both of which delivered impressive top-line results, non-essential retailers have suffered dearly from the coronavirus crisis in the first quarter.
One of the most recent victims was Kohl's (KSS). On May 19, the Wisconsin-based company posted a startling (but widely expected) 41% year-over-year drop in revenues. Adjusted net loss lagged expectations by a record-breaking $1.44, but much of the miss may have been a result of inventory reserves not