NEW YORK (AP) — An activist investor is pushing department store chain Kohl’s to either sell the entire company or spin off its e-commerce division.
In a letter posted online on Monday, Engine Capital said that it wants the Menomonee Falls, Wisconsin-based retailer to consider these alternatives to boost the stock price.
Engine Capital said that if the company chose spinning off its e-commerce division, a move similar to what Saks did earlier this year, the stand-alone business could be valued at $12.4 billion or more.
That amount dwarfs the company’s current market capitalization. Kohl says the board and management team “continuously examine all opportunities for maximizing shareholder value."
