
: Kohl's stock could be worth 0 a share if balance sheet optimized, activist investor Macellum says #FinanceUSA #StockMarketNEWS Activist investor Macellum Advisors GP LLC said Kohl's Corp. leadership
@stockMarketNEWS Tue 18 Jan, 2022
Kohl's stock could be worth 0 a share if balance sheet optimized, activist investor Macellum says #FinanceUSA #StockMarketNEWS
Activist investor Macellum Advisors GP LLC said Kohl's Corp. leadership has been "materially mismanaging" the business, and plans to nominate a number of candidates for the board of directors unless the board addresses the long-term underperformance of the stock. Kohl's stock slipped 0.6% in premarket trading. Macellum, which owns nearly 5% of the shares outstanding, said it believes the stock could be valued at 0 per share, or more than double Friday's closing price of .77, if Kohl's were to make changes to improve operation execution and optimize its balance sheet, which could include selling some of its billion-to- billion worth of real estate assets. Macellum said if Kohl's is unwilling to make suggested changes, it should explore strategic alternatives, including a possible sale of the company. It has gained 9.6% over the past 12 months through Friday, while the SPDR S&P Retail ETF has rallied 16.2% and the S&P 500 has advanced 23.7%.
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