Macy’s, Kohl’s have about 5 months of cash available

[desiboys]

Macy’s Inc. has about 4.5 months of available cash and Kohl’s has five months, putting them at risk from extended closures, according to calculations from Cowen analysts.

With no store revenue, Cowen’s analysis assumes Macy’s M, -5.892% could ring up $449 million in monthly online sales while Kohl’s would generate $346 million monthly.

Macy’s said last week that it drew down all of its $1.5 billion in credit. Moody’s downgraded Macy’s bonds to junk this week. Macy’s has a monthly labor expense of $227 million.

[BeerBob123]