Kohl's Stock's Biggest-ever One-day Drop Shaves Off $2 Billion In Market Cap

Kohl's Corp. gave its investors the biggest ever discount to its stock price on Thursday, after the department store chain reported disappointing fiscal first-quarter sales. The stock plunged $9.89, or 13.27%, during Thursday's regular session, the biggest one-day price and percentage decline in its history, according to the WSJ's market data group. Volume of over 25 million shares was a record high, and close to 10 times the daily average. Kohl's stock started trading publicly on May 19, 1992. Despite the day's selloff, which wiped away about $2 billion in market capitalization, the stock was still up 5.9% year to date, outperforming the SPDR S&P Retail ETF's 1.7% advance and the S&P 500's 3% gain.