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Kohl’s Shares Post Biggest Drop Since 2020 After Investor Day

  • The stock sank 13% Monday, steepest decline since August 2020
  • It has roadmap to drive growth, CEO Gass said in interview

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.