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Benzinga
Benzinga
Business
Shivani Kumaresan

Why Are Kohl's Shares Trading Higher Today

Kohl Engine Capital KSS NYSE
  • Hudson's Bay, the owner of American luxury department store chain Saks Fifth Avenue, is planning a bid for the department store chain Kohl's Corp (NYSE:KSS), Reuters reported.
  • Related: Kohl's Dismisses Takeover Offers: What Investors Need To Know
  • In another development, Engine Capital LP issued a letter to the board of Kohl's, urging the sale of the company.
  • Engine Capital stated it is disappointed with the financial guidance presented at the company's recent analyst day.
  • Engine Capital urged that the best offer, whether $65 per share or hopefully higher, should be negotiated and put in front of shareholders for a vote.
  • Price Action: KSS shares are trading higher by 6.69% at $57.42 on the last check Wednesday.
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