Kohl’s Corporation reports news on its omnichannel retail business, which serves customers through more than 1,100 stores in 49 states, Kohls.com and the Kohl’s App. Updates commonly cover net sales, comparable sales, SG&A expense, operating income, cash flow, balance-sheet actions and quarterly dividends on KSS common stock.
Company announcements also address merchandising and seasonal promotions across apparel, shoes, accessories, beauty and home categories, including national and only-at-Kohl’s brands, Kohl’s Cash offers and digital shopping tools. Other recurring topics include executive leadership changes and community partnerships such as Kohl’s Cares and local hunger-relief initiatives.
Macellum Advisors, a significant stakeholder in Kohl’s (NYSE: KSS), is urging shareholders to support their proposed board slate at the upcoming Annual Meeting on May 11, 2022. They criticize the current board for poor performance, including rejecting acquisition offers and implementing unfavorable practices like a poison pill strategy. Despite these concerns, Macellum believes a restructured board could enhance value through credible reviews of the company's direction. Shareholders are encouraged to vote using the WHITE proxy card for Macellum's slate.
Kohl's Corporation (NYSE: KSS) has mailed its definitive proxy materials for its Annual Meeting of Shareholders on May 11, 2022. The Board emphasizes its strong performance with a total shareholder return of 146% since October 2020 and a record adjusted EPS of $7.33 in 2021. The company plans to continue initiatives such as expanding its Sephora partnership and enhancing digital sales, targeting $8 billion in 2022. Kohl's urges shareholders to vote for its board nominees over those proposed by Macellum, citing their lack of experience and potential negative impacts on long-term value.
Kohl's Corporation (NYSE: KSS) announced that its Board of Directors is reviewing multiple preliminary offers for acquisition. These offers are currently non-binding and lack committed financing. The Board has engaged Goldman Sachs to assist selected bidders in refining their proposals to include committed financing. The Finance Committee, comprised of independent directors, is overseeing this review, which follows a settlement agreement with Macellum Advisors GP, LLC. This process reflects Kohl's ongoing efforts to explore strategic options for growth and shareholder value enhancement.
Kohl's (NYSE: KSS) and Capital One (NYSE: COF) have announced a multi-year extension of their credit card program agreement, marking the second extension since 2014. This partnership aims to enhance customer experience through expanded buying power and exclusive offers via the Kohl's Card. The agreement includes plans to introduce a co-branded card product as early as 2023. Capital One's SVP emphasized the significant value delivered to customers through shared innovation and growth. Kohl's is also set to enhance rewards for Kohl's Card holders, offering 7.5% back for Rewards members.
Engine Capital LP expressed deep disappointment with Kohl's Corporation (NYSE: KSS) following its recent analyst day, where the company's low sales and earnings guidance caused a 12% drop in shares. Kohl's projected low single-digit sales growth and mid-to-high single-digit EPS growth, relying heavily on share repurchases. Engine Capital urges the Board to expedite the sale process and present the best offers to shareholders, emphasizing the need for a competitive sale process after months of delays.
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Kohl’s Corporation (NYSE: KSS) recently held its virtual Investor Day, announcing a strategic focus on becoming the retailer of choice for the Active and Casual lifestyle. Key initiatives include targeting low-single digit sales growth and mid-to-high single-digit EPS growth. The company plans to expand its Sephora business to a $2 billion revenue stream with over 850 stores. Kohl’s also aims to open more than 100 new stores in the next four years and enhance customer rewards. The company commits to achieving net-zero emissions by 2050.
Kohl’s Corporation (NYSE: KSS) will host a virtual investor day on March 7, 2022, at 9:00 a.m. Eastern time. The company’s executive team will discuss strategic initiatives for growth and present an updated financial framework, followed by a Q&A session. Interested parties can access the webcast on Investors.Kohls.com. Additionally, Kohl’s plans to file a proxy statement for its 2022 Annual Meeting of Shareholders and encourages shareholders to review all relevant documents, which will be available through the SEC and Kohl’s website.
Macellum Advisors, holding nearly 5% of Kohl's Corporation (KSS), raised concerns about the company's strategies ahead of its analyst day on March 7, 2022. Key issues include Kohl's inability to boost sales versus 2019, declining gross margins, rising costs, and ineffective capital allocation. Macellum criticized the lack of growth and poor performance relative to peers, emphasizing the need for management to address several critical questions during the meeting. The firm advocates for a careful evaluation of expenses and potential sales offers from credible buyers to enhance shareholder value.
Kohl's Corporation (NYSE:KSS) reported fourth quarter diluted earnings per share of $2.20, meeting expectations, and a record full-year adjusted diluted EPS of $7.33, surpassing the previous high of $5.60 in 2018. The company repurchased $548 million in shares during the quarter and $1.355 billion for the year. For 2022, Kohl's expects net sales to increase by 2% to 3%, with an operating margin of 7.2% to 7.5% and EPS estimates of $7.00 to $7.50. A quarterly dividend of $0.50 per share was declared, doubling the previous amount.