Kohl's names Tom Kingsbury as permanent CEO

ANNE D'INNOCENZIO
·1 min read

NEW YORK (AP) — Kohl's said Thursday it has named acting CEO Tom Kingsbury as its permanent leader.

Kingsbury, a Kohl's board member with more than 40 years experience in retail, has served as an interim CEO since early December, when Michelle Gass left the department store chain to become president of jeans maker Levi Strauss & Co.

Kohl's, based in Menomonee Falls, Wisconsin, is facing increased pressure from activist shareholders to turn around its business. It is battling higher costs and a pullback from its price-conscious shoppers who are being more cautious with their spending in the face of rising prices for gas, food, and just about everything else.

Kingsbury joined the board of Kohl’s in 2021 as part of a pact between the retailer and activist investors, including Macellum Advisors, who have been pressing the company to make changes to boost its share price.

In connection with Thursday's announcement, Kohl's said it entered into a cooperation agreement with Macellum and some of its affiliates.

Shares of Kohl's Corp. slipped about 1% in extended trading after the appointment was announced. They have fallen about 41% in the past year.

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Blinken eyes US-China ties on visit, but trade, Taiwan, Tiktok mark challenges

    U.S. Secretary of State Antony Blinken arrives in Shanghai on Wednesday with U.S.-China ties on a steadier footing, but with a daunting array of unresolved issues threatening the stability of relations between the global rivals. Blinken will meet with business leaders before heading to Beijing for talks on Friday with his counterpart, Foreign Minister Wang Yi, and a likely meeting with President Xi Jinping.Blinken's visit is the latest high-level contact between the two nations that, along with

  • Q1 2024 W R Berkley Corp Earnings Call

    Q1 2024 W R Berkley Corp Earnings Call

  • Louvre exhibition zooms in on history and those behind the modern Olympics

    Three months before the start of the Paris Olympics, the Louvre will add its cultural heft to the prelude with the launch on Wednesday of an exhibition glorifying the museum's role in the birth of the modern Games. It features the academics, artists and politicians whose dynamism defined the Olympics at its rebirth in 1896. "Olympism, a Modern Creation, an Ancient Heritage" runs until 16 September in the Galerie Richelieu and gathers 120 vases, pictures, drawings, stamps and letters from the Lou

  • Analysis-China's EV survival game creates peril - and power

    By most measures, the last thing China needs is more electric cars crowding a market with more losers than winners, driving down prices at the expense of profit and taking the fight for market share beyond China. But while there is a peril in China's overcapacity, there is also a power in the hyper-competition it has unleashed, analysts, suppliers and executives say. China's leading EV makers have found ways to slash vehicle development time, combining speed to market with new features and a pricing advantage rivals outside cannot match.

  • US seeks 36 months' jail for Binance founder Zhao

    Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, should serve 36 months in prison after pleading guilty to violating laws against money laundering, U.S. prosecutors said in a court filing on Tuesday. Zhao, who is expected to be sentenced on April 30 in Seattle, stepped down as Binance's chief last November, when he and the exchange admitted to the violations, and the firm agreed to a penalty of $4.32 billion. "Given the magnitude of Zhao's willful violation of U.S. law and its consequences, an above-guidelines sentence of 36 months is warranted," U.S. prosecutors told the U.S. district court for the western district of Washington.

  • 3 French Dividend Stocks With Yields Up To 8.6%

    Amid a backdrop of mixed performances across major European stock indices, with France's CAC 40 showing relative stability in an otherwise fluctuating market environment, investors might find reassurance in dividend stocks. These stocks can offer potential income stability and are particularly appealing during times when market volatility underscores the value of predictable returns.

  • Is Babcock International Group PLC's (LON:BAB) 9.1% ROE Strong Compared To Its Industry?

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...

  • NBA Twitter reacts to Mavs – Clippers Game 2 thriller: ‘Luka won the game defensively’

    Here's how NBA Twitter reacted to the Mavericks tying up the series against the Clippers.

  • Australian PM calls Elon Musk an 'arrogant billionaire' in row over attack footage

    Anthony Albanese's comments come amid a feud over X's reluctance to remove footage of a stabbing.

  • Q1 2024 Crane Co Earnings Call

    Q1 2024 Crane Co Earnings Call

  • Studio Ghibli’s work ‘like Shakespeare’, says My Neighbour Totoro stage show’s director

    Hayao Miyazaki’s animations praised by Phelim McDermott as new production in West End announced

  • BBC radio star Zoe Ball announces death of mother following cancer diagnosis

    The BBC Radio 2 presenter announced in early March that her mother Julia had been diagnosed with cancer.

  • Are Investors Undervaluing Franchise Brands plc (LON:FRAN) By 49%?

    Key Insights The projected fair value for Franchise Brands is UK£3.74 based on 2 Stage Free Cash Flow to Equity...

  • 'I'm just really grateful': Scottsdale teen donates books to those in need

    Ellie Park created the 'Books for All Foundation' to collect book donations from her community and bring them to areas with limited access to them. Her first delivery of 400 books was to Dilkon Restoration Church on the reservation.

  • Exploring Top Dividend Stocks In Hong Kong For April 2024

    As of April 2024, the Hong Kong market faces challenges amidst a backdrop of geopolitical tensions and economic uncertainties that have influenced global markets. Despite these headwinds, dividend stocks remain a focal point for investors seeking potential stability and income generation in turbulent times. In this context, understanding the fundamentals of robust dividend-paying companies becomes crucial. These firms typically exhibit strong financial health and consistent earnings,...

  • Mum started out with £300 - now she's £1m Queen Bee

    A woman who survived domestic abuse has grown a successful business motivating entrepreneurs.

  • Sabre Insurance Group (LON:SBRE) Is Increasing Its Dividend To £0.081

    The board of Sabre Insurance Group plc ( LON:SBRE ) has announced that it will be paying its dividend of £0.081 on the...

  • Italy passes law allowing pro-life groups access to abortion clinics

    Opponents of the amendment question the wisdom of allowing medically unqualified groups access to women considering an abortion but the government counters the move is designed so prospective patients can be better informed.View on euronews

  • UPDATE 1-Roche Q1 sales down 6% on forex effect, loss of COVID revenue

    Roche said on Wednesday its first-quarter sales slipped by 6% as the loss on COVID-19 related revenue was partly offset by a better-than-expected sales boost for eye drug Vabysmo. Quarterly sales fell to 14.4 billion Swiss francs ($15.80 billion), in line with analysts expectations, also due to a strong Swiss franc weighing on overseas revenue, the family-controlled Swiss drugmaker said in a statement. Roche said the rest of the year would no longer be burdened by higher year-on-year comparisons from inflated sales during the COVID-19 pandemic.

  • The three-year returns for Standard Chartered's (LON:STAN) shareholders have been favorable, yet its earnings growth was even better

    By buying an index fund, investors can approximate the average market return. But many of us dare to dream of bigger...