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Kohl's Corporation (symbol: KSS) is a leading American department store chain, headquartered in Menomonee Falls, Wisconsin. Established in 1962, Kohl's operates approximately 1,174 stores across 49 states, primarily located in strip centers. The retailer offers a wide range of products, including private-label and national brand clothing, shoes, accessories, cosmetics, and home furnishings. Women's apparel is the largest category, contributing to 26% of the company's 2023 sales.
Kohl's is committed to inspiring and empowering families to lead fulfilled lives through its diverse product offerings and exceptional customer service. The company’s mission extends beyond retail, as it actively engages in various community support programs. Through initiatives like Kohl’s Cares and Associates in Action, Kohl's contributes significantly to youth-serving nonprofit organizations and environmental conservation efforts.
Financially, Kohl's maintains a robust presence in both physical and digital retail spaces. The company has successfully expanded its e-commerce operations, ensuring a seamless shopping experience for customers nationwide. Recent achievements include collaborations with notable brands and the introduction of innovative products to meet the evolving needs of consumers.
Kohl's strong emphasis on corporate responsibility is evident in its environmental sustainability efforts. The retailer seeks innovative solutions to promote long-term stability, reflecting its dedication to being a responsible community member. Investors benefit from the company’s transparent and timely information, underscoring Kohl's commitment to maintaining trust and accountability.
In summary, Kohl's Corporation stands out for its extensive product range, community involvement, and sustainable practices, making it a significant player in the retail industry.
Kohl’s Corporation (NYSE: KSS) has sent a letter to shareholders emphasizing the qualifications of its Board of Directors amid ongoing proposals from Macellum Advisors to change the board composition. The company has added six new independent directors in the last three years and asserts that its board has the necessary skills for effective oversight, particularly in M&A processes. Kohl's urges shareholders to vote for its 13 directors, highlighting concerns over the qualifications of Macellum's nominees, who lack public company experience. The Annual Meeting is set for May 11, 2022.
Macellum Advisors, holding nearly 5% of Kohl’s Corporation (KSS) shares, has expressed concerns regarding the Board’s strategic review process, calling it flawed and lacking transparency. They highlight a significant share price lag, trading 15% below reported offers, and criticize the Board for rejecting credible acquisition interest. Macellum questions the effectiveness of the Board’s capital-intensive plan and its failure to address shareholder concerns. They urge the Board to clarify the status of acquisition bids before the upcoming Annual Meeting.
Kohl’s Corporation (NYSE: KSS) announced a shareholder letter highlighting a transformation aimed at boosting growth and profitability. The Board is engaged in evaluating interest from multiple potential buyers while criticizing Macellum's director nominees as inexperienced. The letter emphasizes substantial progress since initiating a new strategy in October 2020, achieving record EPS and a 146% total shareholder return since then. Kohl’s is urging shareholders to vote for its nominees on the BLUE Proxy Card amid claims of Macellum’s contradictory agenda that lacks value-enhancing proposals.
Macellum Advisors, a significant stakeholder in Kohl’s (NYSE: KSS), is urging shareholders to support their proposed board slate at the upcoming Annual Meeting on May 11, 2022. They criticize the current board for poor performance, including rejecting acquisition offers and implementing unfavorable practices like a poison pill strategy. Despite these concerns, Macellum believes a restructured board could enhance value through credible reviews of the company's direction. Shareholders are encouraged to vote using the WHITE proxy card for Macellum's slate.
Kohl's Corporation (NYSE: KSS) has mailed its definitive proxy materials for its Annual Meeting of Shareholders on May 11, 2022. The Board emphasizes its strong performance with a total shareholder return of 146% since October 2020 and a record adjusted EPS of $7.33 in 2021. The company plans to continue initiatives such as expanding its Sephora partnership and enhancing digital sales, targeting $8 billion in 2022. Kohl's urges shareholders to vote for its board nominees over those proposed by Macellum, citing their lack of experience and potential negative impacts on long-term value.
Kohl's Corporation (NYSE: KSS) announced that its Board of Directors is reviewing multiple preliminary offers for acquisition. These offers are currently non-binding and lack committed financing. The Board has engaged Goldman Sachs to assist selected bidders in refining their proposals to include committed financing. The Finance Committee, comprised of independent directors, is overseeing this review, which follows a settlement agreement with Macellum Advisors GP, LLC. This process reflects Kohl's ongoing efforts to explore strategic options for growth and shareholder value enhancement.
Kohl's (NYSE: KSS) and Capital One (NYSE: COF) have announced a multi-year extension of their credit card program agreement, marking the second extension since 2014. This partnership aims to enhance customer experience through expanded buying power and exclusive offers via the Kohl's Card. The agreement includes plans to introduce a co-branded card product as early as 2023. Capital One's SVP emphasized the significant value delivered to customers through shared innovation and growth. Kohl's is also set to enhance rewards for Kohl's Card holders, offering 7.5% back for Rewards members.
Engine Capital LP expressed deep disappointment with Kohl's Corporation (NYSE: KSS) following its recent analyst day, where the company's low sales and earnings guidance caused a 12% drop in shares. Kohl's projected low single-digit sales growth and mid-to-high single-digit EPS growth, relying heavily on share repurchases. Engine Capital urges the Board to expedite the sale process and present the best offers to shareholders, emphasizing the need for a competitive sale process after months of delays.
Kohl’s Corporation (NYSE: KSS) recently held its virtual Investor Day, announcing a strategic focus on becoming the retailer of choice for the Active and Casual lifestyle. Key initiatives include targeting low-single digit sales growth and mid-to-high single-digit EPS growth. The company plans to expand its Sephora business to a $2 billion revenue stream with over 850 stores. Kohl’s also aims to open more than 100 new stores in the next four years and enhance customer rewards. The company commits to achieving net-zero emissions by 2050.
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