Kohl's roars back in Q1, but 2021 outlook spooks Wall Street

Kohl’s raised its financial outlook for the year  on Thursday, after a solid rebound in the first quarter from the devastating impact of the pandemic

NEW YORK -- Kohl’s raised its financial outlook for the year on Thursday, after a solid rebound in the first quarter from the devastating impact of the pandemic. But those raised expectations fell short of what many industry analysts had been projecting and shares plunged nearly 11% Thursday. During a conference call, Kohl's explained that it it took into account logjams at ports and inflationary pressures in wages that could increase costs in the second half of the year. Kohl’s is trying to manage supply chain issues by adding more drivers and increasing frequency of store deliveries. More shoppers came back to shop in stores as COVID-19 vaccinations become more common and Kohl's bounced back to a profit after the chain, based in Menomonee Fall, Wisconsin, lost money last year when it was forced close its doors along with thousands of other retailers.