Retail

Kohl’s says it has no plans to sell more real estate and lease it back

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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…



Source cnbc.com

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