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Kohl's Surges Midday After Expanding Amazon Return Program

Investing.com

Investing.com - Retailer Kohl's was higher in midday trading Tuesday after it announced it will return almost any unpackaged product for Amazon customers across all of its stores.

The program started out as a pilot in 2017 and will expand to all of Kohl’s 1,150 stores in July, the company said. Kohl’s will accept any Amazon item that is eligible, without a box or label, and return it for free.

The retailer announced announced last month that it is planning to carry Amazon products in 200 of its stores.

Kohl's (NYSE:KSS) gained 8.4% after the news, while Amazon.com (NASDAQ:AMZN) was up 1.3%.

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Elsewhere in the sector, Macy’s (NYSE:M) fell 0.3%, while Target (NYSE:TGT) was down 0.8% and Nordstrom (NYSE:JWN) slumped 1.1%.

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