- Bidders seeking to acquire Kohl's Corp (NYSE: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. (NYSE:SPG), and Brookfield Asset Management Inc (NYSE: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
