Kohls Corp - KSS STOCK NEWS

Kohl's (NYSE: KSS) is enhancing customer shopping experiences during the holiday season with various conveniences such as in-store pickup and extended hours. Gift options include popular items like Sephora gift sets, Amazon Fire Kids Tablets, and Nike basketball shoes. Kohl's customers can also benefit from daily deals and events, including a Friends & Family sale offering 25% off on Super Saturday, December 17. Gift cards are highlighted as ideal last-minute gifts. The company emphasizes its commitment to delivering value and convenience to shoppers this holiday season.

Kohl’s (NYSE: KSS) has announced a $5 million donation to over 150 nonprofits across the U.S. as part of its philanthropic initiative, A Community with Heart. This year's grants, ranging from $5,000 to $65,000, aim to support family health and wellness initiatives. Since 2018, Kohl’s has contributed more than $24 million to local nonprofits through its program. The contributions are fueled by the company's Kohl’s Cares® merchandise sales, which donate all net profits to charitable causes. Notable beneficiaries include the American Cancer Society and the National Urban League.

Kohl's has launched a series of promotions starting Cyber Monday and continuing through Christmas Eve, enabling customers to earn Kohl's Cash every day. Promotions include daily savings events and free store pickup options. Key discounts include 20% off with code SHOP20 and exclusive offers on popular items like Sephora products and Shark Vacuums. Additional savings weekends are scheduled for early December. Kohl's emphasizes a convenient shopping experience with digital tools and rewards, aiming to enhance the holiday shopping experience.

Kohl's Corporation (NYSE: KSS) reported a challenging third quarter with a 6.9% decrease in comparable sales and a 7.2% decline in net sales, totaling $4.277 billion. Net income dropped 60% to $97 million, while diluted earnings per share also fell 50% to $0.82. Due to macroeconomic headwinds and the CEO transition, the company has withdrawn its previous guidance for the fourth quarter. Following the completion of a $500 million accelerated share repurchase agreement, Kohl's declared a $0.50 per share dividend, payable on December 21, 2022.

Kohl’s Corporation (NYSE: KSS) announced a quarterly dividend of $0.50 per share, payable on December 21, 2022, to shareholders recorded by December 7, 2022. This regular dividend reflects the company's ongoing commitment to shareholder returns while maintaining its position as a leading omnichannel retailer in the U.S., with over 1,100 stores. Kohl’s aims to be the trusted retailer of choice, focusing on diverse offerings and environmental, social, and corporate governance initiatives.

Ancora Holdings Group, LLC, holding 2.5% of Kohl’s Corporation (NYSE: KSS), issued a statement regarding a management transition. Ancora expressed satisfaction with the appointment of Tom Kingsbury as interim CEO, a nominee from Ancora's shareholder group in 2021. They believe Kingsbury’s retail experience will enhance Kohl's leadership and drive value for investors, customers, and employees. Ancora also supports Kingsbury and Margaret Jenkins in forming a committee to identify a permanent CEO, emphasizing the need for operational expertise in the company’s leadership.

Kohl's Corporation (NYSE: KSS) announced that CEO Michelle Gass will step down on December 2, 2022. Tom Kingsbury has been appointed as Interim CEO during the search for a permanent replacement. The company revealed preliminary third-quarter results indicating a 6.9% drop in comparable sales and a 7.2% decline in net sales year-over-year. Operating margin stood at 4.7%, with diluted earnings per share estimated at $0.82. Full results will be disclosed on November 17.

Included Health has announced the appointment of Michael Bender to its Board of Directors, succeeding Hill Ferguson, the former CEO of Doctor On Demand, who has stepped down as previously planned during the merger with Grand Rounds Health. Bender brings over 30 years of experience in healthcare and consumer-facing organizations, having held leadership roles at Eyemart Express and Walmart. Owen Tripp, the current CEO, expressed confidence in Bender's ability to tackle industry challenges and emphasized the company's mission to lead in integrated care delivery.

Kohl's (NYSE: KSS) has announced a series of promotions for Black Friday, including its TGIBF! Sweepstakes, offering over $1 million in prizes to in-store shoppers on Nov. 25. The retailer is unveiling its Black Friday Ad featuring deals over six days, starting with an Early Access event from Nov. 4. Customers can earn $15 in Kohl's Cash for every $50 spent. Stores will open at 5 a.m. on Black Friday, with extended deals leading into Cyber Days.