Kohl's ousts CEO Buchanan after investigation into some vendor transactions
Read full article: Kohl's ousts CEO Buchanan after investigation into some vendor transactionsKohl’s said it has terminated CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest.
Kohl's to close 27 stores by April as struggling department stores works to improve sales
Read full article: Kohl's to close 27 stores by April as struggling department stores works to improve salesKohl’s is planning to close 27 underperforming stores in 15 states by April as the struggling department store chain aims to boost profitability and improve sagging sales.
Macy's rejects $5.8B takeover bid from Arkhouse Management, Brigade Capital Management
Read full article: Macy's rejects $5.8B takeover bid from Arkhouse Management, Brigade Capital ManagementMacy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan.
Target's 3Q profit drops 52% as shoppers force price cuts
Read full article: Target's 3Q profit drops 52% as shoppers force price cutsAn unexpected and potentially ominous pullback in customer spending ahead of the holiday shopping season pushed third quarter profits at Target down 52% after it was forced to slash prices for Americans who are feeling the squeeze of inflation.
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Kohl's pushes back on investor group's takeover efforts
Read full article: Kohl's pushes back on investor group's takeover effortsAn empty parking outside a closed Kohl's store is shown in Indianapolis, Thursday, April 2, 2020. Kohls is fighting back against an investor groups efforts to take control of the department store chain's board, arguing that it would derail its progress and momentum. (AP Photo/Michael Conroy, file)NEW YORK – 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. 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 investor group is made up of Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital.