The Strategist

US retail chain Kohl's is in talks to sell for $8B



06/08/2022 - 08:00



Kohl's, one of the major department store chains in the United States, has revealed that it is in the process of being sold to a holding company FRG.



Mike Mozart
Mike Mozart
It offered $60 a share for Kohl's stock, bringing the total deal value to around $8 billion. Kohl's operates or owns over 1100 department stores in 49 states across the US.

Annual sales are estimated to be around $18 billion. FRG is a firm based in the United States that owns and operates retail franchises.

According to The Wall Street Journal, Kohl's has been looking for a buyer for a long time since it can't recover on its own from the sales downturn caused by the COVID-19 outbreak and rigorous lockdowns.

Even the start of a retail market recovery in the United States in 2022 hasn't helped the company regain its market capitalization, which has dropped by half since 2018.

source: wsj.com

 




More
< >

Tuesday, September 27th 2022 - 10:24 TotalEnergies closes refinery in southern France

Friday, September 23rd 2022 - 06:30 Tesla to recall 1.1 million cars due to window problems