Kohl's board has nixed a deal to be bought by Franchise Group, citing a poor retail environment caused by rising inflation that has consumers pulling back on spending.
FILE - In this Feb. 25, 2021 file photo a woman arrives at a Kohl's store in West Des Moines, Iowa. Kohl's board has nixed a deal to be bought by Franchise Group, Friday, July 1, 2022, citing a poor retail environment caused by rising inflation that has consumers pulling back on spending. Wisconsin-based Kohl's was in exclusive talks with Franchise Group, the owner of Vitamin Shop and other retail outlets, on a deal worth about $8 billion. SILVER SPRING, Md.
"Given the environment and market volatility, the Board determined that it simply was not prudent to continue pursuing a deal," said Kohl's Chairman Pete Boneparth.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kohl's sale falls apart in shaky retail environmentThe potential sale of the Kohl's department store chain has fallen apart in a shaky retail environment of rising inflation and consumer anxiety.
Read more »
Kohl's sale falls apart in shaky retail environmentThe potential sale of the Kohl's department store chain has fallen apart in a shaky retail environment of rising inflation and consumer anxiety.
Read more »
Kohl's takes down the 'for sale' signKohl's is no longer for sale.
Read more »
Kohl's Terminates Sale Talks With Vitamin Shoppe Owner Franchise Group, Sources SayThis decision from Kohl’s comes as its stock price slumps and its sales decline.
Read more »
M2 MacBook Air will hit stores on July 15, report says | Digital TrendsApple’s new-look MacBook Air featuring the company’s latest M2 chip is set to go on sale on July 15, according to a leak from within Apple's retail division.
Read more »