Activist investor urges Kohl's to sell -- or to spin off its online business

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Activist investor urges Kohl’s to sell — or to spin off its online business

New York-based hedge fund Engine Capital LP wants the retailer to examine the two alternatives to improve its lagging stock price, according to a letter sent to Kohl’s KSS, -2.89% board Sunday and viewed by The Wall Street Journal. Engine owns a roughly 1% Kohl’s stake.

Engine argues that the company has underperformed both the S&P 500 and other retailers in recent years. Kohl’s shares closed Friday at $48.45, roughly where they were 10 years ago, giving the Menomonee Falls, Wis., company a market value of around $7 billion. Engine said in the letter that assuming online sales revenue of around $6.2 billion, Kohl’s digital business alone would be worth $12.4 billion. Engine also said it believes there are private-equity firms that would pay at least $75 a share and that interactions with potential buyers suggest they could do so by monetizing Kohl’s real estate.An expanded version of this report appears on WSJ.com.China seeks first military base on Africa’s Atlantic coast, U.S. intelligence finds.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I saw several people testifying of making so much money with the help of AmeliDavd on Bitcoin option trade and I decided to give a try and now I'm glad now she helped me and my colleagues to make $5000 in one week, thank you for transparency and trust.

You missed Sand, Mana, ENJ, dont miss ALU Altura with SmartNFT and metaverse is the best choice . It is only 0.19$ and 67k holders. altura_nft POWERING THE FUTURE OF GAMING Altura provides the infrastructure for the future of in-game items, digital assets and The Metaverse

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Is The Era Of Stay-At-Home Stocks Over? Here’s Why Zoom, Peloton And Others Have Slumped In 2021Is the era of stay-at-home stocks over? Here's why Zoom, Peloton and others have slumped in 2021: by skleb1234 skleb1234 thanks skleb1234 Just want to say a very big thank you to Mrs lisamiaBTC and her company platform for their transparency, I had doubts at first but seeing I got paid I deemed it necessary to share with the general public and to let them know that you can be truly trusted..thank you so much. skleb1234 Let's learn about the Zombie World Z game project, have the opportunity to make money from Metaverse. ZWZ is a zombie shooting game, built on the Zombie idle defense game that has more than 15 million downloads on CH-Play. ZombieworldZ ZWZ
Source: Forbes - 🏆 394. / 53 Read more »

Market history says omicron volatility isn't a reason for investors to sellLast Friday's VIX spike of 54% on the omicron variant emergence has been followed by more big moves in the Dow, but VIX history says the bull market won't end. They’re selling now before the Democrats raise the capital gains taxes to 69%? The market is set for a huge correction and the hedge fund managers are about to short it to cause a panic? It’s the end of the year and people are profit taking. Pick one or all of the above! Use options as shock absorbers on portfolio holdings Really? At what other point in history did 20% of a nation choose to cultivate AND distribute pandemic virus variants, rather than get vaccinated?
Source: CNBC - 🏆 12. / 72 Read more »