Kohl's Pushes Back on Investor Group's Takeover Efforts

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Kohl's is fighting back against an investor group's efforts to take control of the department store chain's board, arguing that it would derail its progress and momentum.
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NEW YORK (AP) —

The response, issued Monday, comes after the investor group said it had nominated nine members for Kohl's board of directors as it looks to boost the company's stock and its financial performance. The group owns a 9.5% stake in Kohl's.

In a letter to shareholders made public on Monday, the investor group said Kohl's hasn't kept up with the fast-changing retail landscape and needs to cut its inventory, fix its store label assortment, cut expenses and improve its app and website among other things.

The investor group is made up of Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital.

Kohl's faced challenges even before the pandemic forced the chain and its peers to close temporarily last spring.…
Snopes, Associated Press
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