KOHL’S CORP. $61 is a hold. The company (New York symbol KSS; Consumer sector; Shares outstanding: 157.7 million; Market cap: $9.6 billion; Dividend yield: 1.7%; Takeover Target Rating: Medium; www.kohls.com) operates 1,100 department stores in all states except Hawaii. The company sells brand-name and private-label merchandise, with an emphasis on value pricing. It also sells goods online.
A group of activist investors with a combined 9.5% stake in the company want to replace five of Kohl’s current slate of 12 directors. Those nominees include former executives of Macy’s and Burlington Stores with more retailing experience than the current board members.
The activists blame a lack of expertise for Kohl’s shares dropping 23% (including dividends) in the three years ending January 31, 2021. That’s compared to an average 24% gain of comparable retailers. They also want the company to cut costs, partly through a sale-leaseback arrangement for $3 billion of its real estate.
The company is resisting these moves, pointing to the success of, its new strategy which…
Privacy Policy and Terms of Use
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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Legal Notices and Disclaimers
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