Kohl’s Corp. shares plunged Monday amid a global market selloff on inflation concerns and as it released its longer-term outlook at an investor day.
Shares of the department-store chain fell 13%, their steepest decline since August 2020, as higher oil prices added to the wall of worry for investors, which also fueled a selloff in global stock markets. Consumer discretionary stocks plummeted with the S&P 400 Consumer Discretionary Index losing 7.5%, the most since March 2020.
