Activist investor pushes Kohl’s to sell or split e-commerce
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’s says the board and management team “continuously examine all opportunities for maximizing shareholder value.”
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