T. Rowe Price Associates, one of the biggest investors in Kohl's Corp, said it plans to back all of the department store's directors, dealing a setback to Macellum Advisors as it tries to take control of the board.
Kohl's Corp. sent out a letter to its shareholders on Monday, outlining the strength of its board of directors, hitting back at activist investor Macellum who wishes to take control of the board and sell-off the company.
Ted Baker is focused on its turnaround programme so the last thing it needs is the distraction a private equity bid. But it might have to face that, with reports that Sycamore Partners is mulling a potential offer.
Kohl’s Corp raised its full-year net sales forecast on Thursday as the department store chain, like rival Macy’s Inc, benefited from Americans stepping out to shop more following the easing of pandemic restrictions.
As retailers continue to deal with a national labor shortage, the off-price luxury destination has announced that it has increased the minimum wage for all its hourly associates in North America to $15 per hour.