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Kohl’s stock falls more than 10% after report that sale bids fell through

40324 kohls stock falls more than 10 after report that sale bids fell through

Shares of Kohl’s Corp. KSS, +2.44% fell more than 10% in the extended session Thursday after the New York Post reported that the retailerpushed back this week’s deadline for bids after several potential buyers abandoned the idea. The report cited “multiple sources” familiar with the matter. Kohl’s two weeks ago reported a wide profit miss for its first quarter, saying that sales had weakened in April thanks to “macro headwinds” and “an inflationary consumer environment.” Kohl’s has faced off with an activist investor, but last month its board was reelected and calls for an overhaul were rejected. Shares of Kohl’s ended the regular trading session up 2.4%.

Source: Marketwatch

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