Kohl's Briefly Spikes On Going Private Speculation

Kohl's Corporation KSS spiked briefly Tuesday on speculation the company could be preparing to go private.

The trade news service Prime Retailer summarized recent steps taken by Kohl's to boost performance and said the company "seems to be preparing to go private."

The item didn't cite any source for the speculation.

Kohl's changed hands recently at $59.50, down up 0.44. Over the past year, shares are up about 6 percent.

Kohl's same-store sales fell 1.8 percent in the quarter ended November 1.

Total quarterly sales slipped 1.6 percent to $4.37 billion and earnings of $0.70 cents a share missed expectations.

Prime Retailer noted Kohl's newly instituted cosmetics department, a promotional "loyalty" program and an increased focus on national brands and e-commerce.

"Generally, actions like these are similar to what private equity companies are doing along with structural changes, according to Ernst & Young, creating not only financial, but also social value," Prime said.