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“Vitamin Shoppe owner doubles down on $8B Kohl’s buyout: source” The boss of the company that owns Vitamin Shoppe has been telling investors this week he still aims to buy the struggling department store chain despite skepticism from Wall Street, The Post has learned. Brian Kahn, CEO of the Franchise Group, has been reiterating in…
“Kohl’s auction delayed indefinitely: sources” Kohl’s received two offers Thursday to buy the struggling retail giant – both well below the amount the company turned down earlier this year and expected even a few weeks ago, the Wall Street Journal reported. The takeover bids came from private-equity firm Sycamore Partners, which offered a price in…
“Back-to-office shopping sprees fueling huge growth at Macy’s” Macy’s shares soared 19% on Thursday after the department-store giant reported better-than-expected profits, saying its customers are splurging on new work outfits as they return to the office post-pandemic. The largest department store in the US is selling lots of blazers, dresses, accessories and make-up as consumers…
“Kohl’s braces for bidders to slash takeover offers: report” Bidders competing to acquire Kohl’s are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the retailer’s deteriorating business, people familiar with the matter said. The bidders, which include private equity firm Sycamore Partners,…
“Kohl’s gets legal threat from investor over weak results, shareholder vote” An activist investor is threatening to sue Kohl’s, alleging that the department store chain withheld news about its weak performance earlier this month — even as shareholders voted to re-elect its board. The embattled retailer, which earlier this month won a proxy battle against Macellum…
“Kohl’s sales process is a ‘disaster’: sources” Dismal financial results at Kohl’s have raised concerns that the company’s auction to sell itself will be a bust – even as management continues to tout the strong interest by potential suitors, The Post has learned. The bids are due in “the coming weeks,” Kohl’s affirmed on Thursday…
“Kohl’s cuts annual forecast as it gets stung with inflation” Kohl’s Corp. cut its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation. The reduction, announced Thursday, came as it reported fiscal first-quarter results that came below analysts’ expectations. Sales at stores opened at least…
“Kohl’s fends off activist investor’s bid to reshuffle board” Kohl’s shareholders rejected a bid by activist investor Macellum Advisors to replace as many as 10 of its 13 directors, supporting the retailer’s current board as the company explores a sale. Hedge fund Macellum had called for 10 of the board’s 13 members to be replaced,…
“Activist investor urges Kohl’s to be more transparent about sales process” Activist investment firm Macellum Advisors GP LLC on Monday urged Kohl’s to be more open about its sales process, urging the retailer to give bidders and shareholders a fuller financial picture of itself. The firm, in a letter to Kohl’s board, asked the company…
“Saks Fifth Avenue owner likely front-runner in bid for Kohl’s: source” Canadian department store chain Hudson’s Bay Co. is the likely front-runner in a bidding war for budget department store Kohl’s, a source familiar with the matter told The Post. Kohl’s has received “multiple” expressions of interest to acquire the chain, the company said on…