A view outside a Kohl’s store in Miramar, Florida.
Johnny Louis | Getty Images
Kohl’s said Tuesday that it isn’t planning to sell any of its real estate to then lease back, despite a group of activists pressuring the company to take this route to come up with cash.
The investors want Kohl’s to pursue a sale-leaseback program, saying it could bring in more than $3 billion. The group consists of Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital, and it owns a 9.5% stake in Kohl’s.
The activists have also proposed a slate of directors for Kohl’s board, which has been rejected by the big-box retailer. Kohl’s has said the group’s suggestions would only disrupt…