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Kohl’s Nixes Acquisition Bid, Lowers Q2 Outlook 

Kohl’s Corporation has decided to nix a sale to Franchise Group (FRG), which had emerged as the top bidder during a strategic review. The Menomonee Falls, WI-based retailer also lowered its outlook for the second quarter. 

“Despite a concerted effort on both sides, the current financing and retail environment created significant obstacles to reaching an acceptable and fully executable agreement” with FRG, said Kohl’s board chairman Peter Boneparth. “Given the environment and market volatility, the board determined that it simply was not prudent to continue pursuing a deal.” 

In view of continuing inflationary pressures on the consumer, Kohl’s said it’s seeing a softening in consumer spending and now expects sales to be down high-single digits for Q2, as compared to its prior expectations of down low-single digits relative to last year. Meanwhile, the company is reevaluating opportunities to monetize portions of its real estate portfolio. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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