nysekss
Target Corporation (NYSE:TGT) announced its near-term profit would take a dent as the retailer tries to cancel orders to aggressively offload unwanted items. This means Target has curved its second-quarter profit estimates while it manages to offer relevant product categories to customers. Offloading InventoryAs reported by CNBC, shares of the giant retailer plunged by 7% in premarket trading after the news broke. Q1 2022 hedge fund letters, conferences and more CEO Brian Cornell told the news outlet, “We thought it was prudent for us to be decisive, act quickly, get out in front of this, addr...
ValueWalk
What’s New In Activism – Sales Pressure At Kohl’sDepartment store operator Kohl’s Corporation (NYSE:KSS) disappointed markets with its strategy and should run a “competitive” sale process, Engine Capital argued, echoing concerns previously raised by fellow activist Macellum Advisors. Engine’s call comes as Sycamore Partners and Hudson’s Bay are said to be preparing bids for Kohl’s. Previously, Kohl’s unveiled plans to open more than 100 smaller-format shops over the next four years and set fresh long-term financial targets, including low-single-digit percentage annual growth. However, the comp...
ValueWalk
Kohl’s Corporation (NYSE:KSS) commitment to great deals this spring extended beyond the coupon books piling up by my mailbox; it just settled with four activists that initially sought to replace a majority of its board. Q1 2021 hedge fund letters, conferences and more Kohl's Deal With ActivistsComing less than two months after the campaign was launched and a full month before the annual meeting at which it was due to climax, the agreement is a tidy bit of business insofar as it avoids proxy advisers Institutional Shareholder Services and Glass Lewis weighing in on the merits of the argument, p...
ValueWalk
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