Kohl’s Looking into Options to Go Private
Kohl’s Corp. is looking into options to take the company private with shares down 40%, according to a Wall Street Journal article.
Kohl’s, which has about 1,200 stores nationwide, is planning to hire an investment banker to look into options, which could include selling to a private equity firm. Online sales and other competition have contributed to the company’s issues, as well as rising apparel costs and declining gross margin.
The company’s shares are down 40% from their high of $79.07 on April 2. It ended last week with a market value of $9 billion, or roughly half its expected annual sales for the current fiscal year, according to the article.