It’s a big earnings week for retail.
Four of the country’s largest nationwide chains — big-boxes Walmart and Target, department store Kohl’s and off-pricer TJX — are set to report second-quarter financial results over the course of the next few days. (Alibaba and Foot Locker also report earnings on Thursday and Friday, respectively.)
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The numbers come at a precarious time for the retail sector, whose challenges amid shifting consumer habits and the rise of e-commerce have been compounded by the ongoing coronavirus pandemic. Government-imposed lockdowns and COVID-19 fears have already significantly impacted both top and bottom lines in the first quarter, albeit in different ways: For Walmart and Target, panicked shoppers drove a surge in sales of essential goods, while physical-first companies like Kohl’s, TJ Maxx and Marshalls took a huge hit as store traffic dwindled and, in most cases, completely halted for weeks.