THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Kohl’s concludes strategic review process

Department store chain Kohl’s has announced that it has concluded its strategic review process without a sale of the business. The US company had been in… View Article

DEPARTMENT STORE NEWS

Kohl’s concludes strategic review process

Department store chain Kohl’s has announced that it has concluded its strategic review process without a sale of the business.

The US company had been in talks regarding a sale with Franchise Group after it attracted 25 interested parties.

In a statement, Kohl’s chair Peter Boneparth said: “After engaging with more than 25 parties in an exhaustive process, FRG emerged as the top bidder and we entered into exclusive negotiations and facilitated further due diligence.

“Despite a concerted effort on both sides, the current financing and retail environment created significant obstacles to reaching an acceptable and fully executable agreement. Given the environment and market volatility, the board determined that it simply was not prudent to continue pursuing a deal.”

Giving an update on its second quarter sales performance, Kohl’s said trading is being impacted by a softening in consumer spending due to inflationary pressures. As a result, it now expects sales to be down high-single digits for for the period, compared to prior expectations of down low-single digits relative to last year.

The company said it will share more on current trading when it releases its second quarter results on 18 August.

Subscribe For Retail News