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Engine Capital Urges Major Retailer Kohl’s to Sell Company

Hassan Maishera
·2 minuto per la lettura

Kohl’s is a leading retailer in the United States, but it might be time the owners sell the company and consider other interests. This is according to one of the company’s leading investors.

Kohl’s Should Sell the Company

Activist investor Engine Capital has urged Kohl’s to consider either a sale of the company or separation of its e-commerce business. According to Engine Capital, the company has underperformed for the past three years, and it might be time to sell.

Engine Capital said Kohl’s has underperformed since CEO Michelle Gass took over in May 2018. According to the activist investor, the retail sector has recorded more than 8% growth since Gass became CEO, while Kohl’s stock price had dropped by 10.5% during that period.

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Kohl’s has faced attacks from investors over the past few months for its underperformance. Earlier this year, Macellum Advisors attacked the retailer for its lagging fundamental and poor stock price performance over the past few years.

KSS has Performed Well this Year

The shares of Kohl’s are up by more than 25% since the start of the year. Despite the criticism by Engine Capital and Macellum Advisors, the value of KSS is up by 27% year-to-date. At press time, KSS is up, trading at $51.09, up by 5.4% over the past 24 hours.

KSS’s MACD line is now at the neutral zone. Source: FXEMPIRE
KSS’s MACD line is now at the neutral zone. Source: FXEMPIRE

The MACD line is just close to the neutral zone, showing that the stock is coming out of a bearish trend. The RSI of 48 shows that KSS is no longer in oversold territory and is heading towards the neutral zone.

KSS’s technical indicators are positive at the moment, and the stock price could rally higher in the coming days if it maintains the current momentum. The stock is still down from the $64 yearly high it set earlier this year. It could look to reach that level before the end of the year or early next year.

This article was originally posted on FX Empire

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