Kohl’s Corporation
In Brief
A negotiated settlement was reached in April of 2021 whereby Kohl’s agreed to add 3 independent directors to the board including industry icon Tom Kingsbury, the former CEO of Burlington Stores. Also, as part of the settlement, Kohl’s agreed to expand its repurchase authorization to $2bn of its stock or roughly 25% of the market capitalization at the time. Lastly, the Company formed a new capital allocation committee including our representative.
Activist Materials
- October 13, 2022: Macellum Issues Letter to Fellow Shareholders Regarding its Desire to Collaborate with the Kohl’s Board of Directors on an Immediate and Targeted Refresh
- May 27, 2022: Macellum Issues Statement Regarding the Need for the Kohl’s Board to Complete a Value-Maximizing Sale as Retail Sector Peers Outperform
- May 20, 2022: Macellum Issues Statement Regarding the Kohl’s Board’s Apparent Breach of Fiduciary Duty and Failure to Disclose Material Information Prior to 2022 Annual Meeting
- May 11, 2022: Macellum Issues Statement Regarding Kohl’s’ Annual Meeting and Its Commitment to Holding the Board Accountable Until Meaningful Shareholder Value is Unlocked
- May 9, 2022: Macellum Issues Final Letter to Kohl’s Shareholders Summarizing its Case for Boardroom Change
- April 25, 2022: Macellum Issues Rebuttal Presentation That Exposes and Refutes the Distortions in Kohl’s’ April 21 Presentation
- April 20, 2022: Macellum’s Presentation Detailing the Urgent Need for Meaningful Change in Kohl’s’ Boardroom
- April 20, 2022 : Macellum’s Video ‘Opportunities at Kohl’s’
- April 4, 2022: Macellum Issues Letter to Kohl’s Board Regarding the Need for a Transparent Update on the Company’s Sale Process
- March 22, 2022: Macellum Issues Letter to the Kohl’s Shareholders
- March 18, 2022: Macellum Files Definitive Proxy Statement
- March 4, 2022: Macellum Highlights Key Concerns With Kohl’s Strategy Ahead of Analyst Day
- February 24, 2022: Macellum Highlights Pattern of Anti-Shareholder Actions and Poor Corporate Governance at Kohl’s
- February 18, 2022: Macellum’s Preliminary Proxy Statement
- February 10, 2022: Macellum Nominates Ten Highly Qualified and Independent Candidates for Election to the Kohl’s Board of Directors
- February 4, 2022: Macellum’s Response to Kohl’s
- January 25, 2022: Letter to KSS Board of Directors
- January 18, 2022: Letter to KSS Shareholders
- Apr 14, 2021: Kohl’s and Investor Group Reach Agreement
- Apr 6, 2021: Letter to KSS Shareholders
- Mar 29, 2021: Letter to KSS Shareholders
- Mar 05, 2021: Letter to KSS Stockholders
- Feb 22, 2021: Investor Group Nominates Nine Highly-Qualified Independent Candidates for Election to Kohl’s Board
- Feb 22, 2021: Letter to KSS Stockholders
Activist Press
Kohl’s snub of big sale-leaseback sets up new clash with hedge funds
Kohl's Corp's (KSS.N) reluctance to sell much of its real estate and then lease it back has set up the U.S. department store operator for a new confrontation…
Kohl’s board needs more change to be the darling of retail again, says Macellum CEO Jonathan Duskin
Jonathan Duskin, Macellum Capital Management CEO, joins ‘Closing Bell: Overtime’ to give his bullish take on Kohl’s and the company’s board reaction to…
Macellum Issues Letter to Fellow Shareholders Regarding its Desire to Collaborate with the Kohl’s Board of Directors on an Immediate and Targeted Refresh
Macellum Advisors GP, LLC (together with its affiliates, “Macellum” or “we”), a long-term holder of nearly 5% of the outstanding common shares of Kohl’s…
Activist Investor Urges Kohl’s to Replace Board Members
Kohl’s has a market value of about $3 billion, with the shares off by nearly half this year. An activist investor that has long targeted Kohl’s Corp. KSS…
Activist investor lambasts Kohl’s management amid sale uncertainty
Calls for changes at Kohl’s (NYSE:KSS) grew only louder on Friday as sale prospects subside. Long-time activist investor Macellum Advisors issued a further…
Kohl’s jumps on report bidders may be willing to pay as much as $62/share
Kohl's Corp. (NYSE:KSS) soared 13% on a report that potential bidders are planning to make binding offers that are lower than their original bids for the…
Kohl’s stock surges on report bidders are still competing for company amid market volatility
Kohl’s shares surged Wednesday on hopes that the retailer could still be bought amid a volatile market. A Reuters report said bidders competing to buy Kohl’s…
Kohl’s activist investor rips ‘alarming’ behavior by company
The management team and board at Kohl's has a lot more questions that need answers, contends the activist investor waging a long-running fight against the…
Kohl’s gets legal threat from investor over weak results, shareholder vote
An activist investor is threatening to sue Kohl’s, alleging that the department store chain withheld news about its weak performance earlier this month — even…
This is such a failure of leadership and governance at Kohl’s, says Macellum Capital’s Jonathan Duskin
Kohl’s shares fell after a report that bidders on the department store are on the sidelines because they can’t get financing. Jonathan Duskin, Macellum Capital…