- Bidders seeking to acquire Kohl's Corp KSS are likely to make offers lower than their initial ones to reflect the market downturn, Reuters reported.
- The potential purchasers, including private equity firm Sycamore Partners, brand holding firm Franchise Group, J.C. Penney investors Simon Property Group, Inc. SPG, and Brookfield Asset Management Inc BAM, intend to lower their offers by at least 10% - 15%.
- Also Read: Multiple Bidders, Key Executives Departure, Mixed Q1 Earnings - Lots Going On With Kohl's
- Meanwhile, Kohl's plans to increase its investment over the next three years in store strategies to improve the store experience for customers and associates.
- Over the next four years, KSS also plans to open about 100 new, smaller format stores in markets previously untapped by physical presence.
- By 2023, Sephora at Kohl's will be introduced to 850 locations, reflecting a new and more modern Kohl's.
- Price Action: KSS, which was halted earlier, is trading higher by 15.9% at $41.93 on the last check Wednesday.
- Photo Via Company
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