Kohl's exploring taking itself private: WSJ

Sun Jan 10, 2016 8:23pm EST
 
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NEW YORK (Reuters) - Beleaguered department store Kohl's Corp (KSS.N: Quote) is said to be debating whether to take itself private, according to a source cited by the Wall Street Journal on Sunday.

Kohl's stock is down 40 percent from its peak of $79.60 set on April 6, and its market value of $9 billion is roughly half of expected annual sales for this fiscal year.

The Wisconsin-based chain, which has about 1,200 stores nationwide, is also debating hiring an investment bank for counsel on other options, including selling to a private equity firm.

The publication said Kohl's board was expected to discuss the options in more detail this week.

(Reporting by Elizabeth Dilts; Editing by Peter Cooney)

 
A Kohl's Department store is shown in Encinitas, California October 28, 2014.  REUTERS/Mike Blake