Activist investor pushes Kohl’s to sell or split e-commerce

Local News

NEW YORK (AP) — An activist investor is pushing department store chain Kohl’s to either sell the entire company or spin off its e-commerce division.

In a letter posted online on Monday, Engine Capital said that it wants the Menomonee Falls, Wisconsin-based retailer to consider these alternatives to boost the stock price.

Engine Capital said that if the company chose spinning off its e-commerce division, a move similar to what Saks did earlier this year, the stand-alone business could be valued at $12.4 billion or more.

That amount dwarfs the company’s current market capitalization. Kohl says the board and management team “continuously examine all opportunities for maximizing shareholder value.”

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

More Don't Miss

Coronavirus News

More Coronavirus

Trending Stories

Don't Miss

Your Local Election HQ

More Election

Local Sports

Locker Room: Keys to next season

Inside Skinny

Locker Room: Rodgers, LaFleur, Gary

Locker Room: Packers eliminated from playoffs

HS Sports Xtra: State's top teams roll in FRCC, FVA

Green Bay men oust Detroit at home