Will Kohls be bought out?

Kohl's is no longer for sale. The department store announced Friday that it has ended its strategic review process and will no longer consider selling itself to Franchise Group (FRG), a holding company that owns The Vitamin Shoppe and other retail brands.

What company is buying Kohl's?

Throughout the month of June, Kohl's (NYSE: KSS) negotiated a potential sale of the Menomonee Falls-based business to Franchise Group Inc. (Nasdaq: FRG). The firm from Ohio, which owns The Vitamin Shoppe and Pet Supplies Plus, acquires businesses that either already have a franchise model or could be suited for it.

Will Kohls go out of business?

A wave of department store closures could hit in 2023, according to UBS analysts. Sales are stalling in 2022, but department store closures have stayed flat since early 2021. Analysts predict companies like Kohl's and Nordstrom will be "under pressure" in the first half of 2023.

Who just bought out Kohls?

Franchise Group, which owns brands such as American Freight and The Vitamin Shoppe, made an $8 billion bid to acquire the retailer in June.

Is Kohl's in financial trouble?

Like many department stores, Kohl's faces rising input costs while consumer retail demand declines. Kohl's recently lost its investment grade credit rating, meaning its interest costs may rise significantly upon its 2023 debt maturities.

Kohl's: Who Would Want To Buy This? | Retail Archaeology

What is changing about Kohls?

What's changed at Kohl's. Kohl's has made some strides recently, cleaning up its stores and adding Sephora shops to elevate its beauty offering, draw younger consumers and add $2 billion in sales by 2025.

Is JCPenney considering buying Kohl's?

Simon Property Group and Brookfield Asset Management, owners of JCPenney, bid $8.6 billion ($68 a share) to buy Kohl's. If the offer is accepted, the brands will continue to operate as separate stores.

Is Kohl's turning into Sephora?

By the end of the year, Sephoras will be in place at 600 Kohl's locations. In 2023, the plan is to open 250 more. The Sephora spaces are 2,500-square-feet shop-in-shops stocked with the products one would find at a full-line Sephora store. Kohl's sees the partnership generating $2 billion in annual sales by 2025.

Who is thinking about buying Kohls?

The department store Kohl's has received a roughly $9 billion offer to go private in a deal with an investment consortium backed by the activist hedge fund Starboard Value, according to two people familiar with the matter.

Why is Kohls trying to sell?

Kohl's is back to trying to bolster traffic in its stores with a new concept. Higher interest rates, stumbling earnings and a slowing economy have thrown a monkey wrench in retailer Kohl's plans to sell itself, forcing the company to piviot in a new direction.

Is Kohls Closing stores in 2023?

We expect department stores to close locations as challenges persist,” Sole noted. In 2020, Macy's outlined a plan to close 125 stores in lower-tier malls by 2023. And this past June, Morningstar analysts identified 10 Kohl's property leases set to expire before fiscal year 2023.

What is the future of Kohl's?

Kohl's' plan to raise revenue rests mostly on its partnership with Sephora, which the company believes could be a $2 billion business, and hundreds of smaller regional stores to be flexible and offer specific merchandise for the local markets.

Why is Kohl's in trouble?

Kohl's is in turmoil today. The chain's sales are lower than before the pandemic, despite strong consumer spending and as its rivals enjoy big gains. Activist investors are circling Kohl's and demanding leadership changes. A sale of the company could be on the horizon.

Who is taking over Kohl's?

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's said Monday that it has entered into exclusive negotiations with retail holding company Franchise Group , which is proposing to buy the retailer for $60 per share.

What's happening with Kohl's department store?

CALIFORNIA — Department store giant Kohl's has been offered an acquisition deal by competitor JCPenney for a whopping $8.6 billion, according to a New York Post report.

Will Kohl's stock recover?

Still a solid company. While Kohl's is likely to report ugly results in the near term, it should be able to reduce inventory to match demand by year-end. That would position it to begin an earnings recovery in 2023 even if demand remains weak by comparison to 2021 (and 2019, for that matter).

Why is Kohls changing?

“We're evolving our position from a department store to a more focused lifestyle concept centered around the active and casual lifestyle,” Kohl's CEO Michelle Gass said in a presentation to investors Monday.

Is Sephora leaving JCPenney?

But Sephora will continue to operate in both Kohl's and JCPenney stores through the latter's transition to the new JCPenney Beauty experience. "Sephora wasn't working for us," Marc Rosen, the CEO of JCPenney since Nov. 2021, told The Wall Street Journal in an April interview.

Is Kohls getting rid of jewelry?

In-store, Kohl's will reduce its assortment within some brands as much as 40%. It will shrink its offering of handbags, fine jewelry, and men's suits—areas that have seen sales decline—making space to increase inventory of healthier categories.

Why is Sephora moving to Kohl's?

The growth of a new base of engaged beauty customers:

The partnership is attracting new, younger, and more diverse customers. Customers that shop Sephora at Kohl's visit more frequently than our average customer. Kohl's has acquired more than 1 million new customers since launching the partnership in August 2021.

Is JCPenney in danger of closing?

JCPenney dispelled rumors about a California closure—and confirmed another in Minnesota. Since summer 2022, rumors have circulated about a JCPenney store in Pleasanton, California, but the company spokesperson told Best Life, "JCPenney has no plans to close our Pleasanton, CA store."

Is JCPenney still struggling?

Turning around JCPenney. JCPenney has around 670 stores today and has little debt for the first time in years. The company is owned by mall landlords Simon Property Group (SPG) and Brookfield Asset Management (BAM). The two firms rescued JCPenney out of bankruptcy for $1.75 billion in the fall of 2020.

What brands is Kohl's discontinuing 2022?

The eight brands are: Dana Buchman, Jennifer Lopez, Mudd, Candie's, Rock & Republic, PopSugar, Elle and Juicy Couture.

Why is Amazon returning to Kohls?

Amazon, for its part, made it easier for customers to return unwanted items without having to build a physical presence around the US. Kohl's got what it needed as well, in the form of a massive influx of foot traffic into participating locations.

Is Kohl's taking Amazon returns anymore?

Amazon Returns are now accepted at all Kohl's stores (excluding Anchorage, Alaska). Return eligible Amazon.com items to Kohl's stores and save yourself time and money. What could be more convenient?