Latest news with #MichaelBender
Yahoo
27-07-2025
- Business
- Yahoo
Kohl's Corporation (KSS) Is A Good Brand, Says Jim Cramer
We recently published . Kohl's Corporation (NYSE:KSS) is one of the stocks Jim Cramer recently discussed. Kohl's Corporation (NYSE:KSS) is an American retailer that sells a wide variety of products. Cramer has discussed the firm several times this year. His comments during the first quarter were mostly bearish as he believed that Kohl's Corporation (NYSE:KSS) might find it hard to recover its sales. However, this time he struck a positive tone: 'But Kohl's is not a great company. It has a balance sheet that's not great. But I'll tell you one thing that it does have. It had three suitors in the 50 to 60 area. And David, the--- suitors, were not, they were not clowns. . .they were legitimate people. And I've got to tell you. They refinanced debt. Now they did three terrible coupons. 10% refinancing. . .but they had no debt in the next five years! So I mean like, this guy, Michael Bender, the new CEO, he could turn it around! You do not want to be short this stock. Yet, he wasn't a fan of Kohl's Corporation (NYSE:KSS) as soon as earlier this month: 'We are experiencing a hundred trillion dollar wealth transfer from baby boomers to Gen X, Y, and Zers, and they're cutting their teeth on stocks right now, doing just what I'm telling you. It's easy to spot housing wins extended to beaten-down stocks like the Target or Kohl's. I'm not a fan of Kohl's…' While we acknowledge the potential of KSS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
The Independent
22-07-2025
- Business
- The Independent
Investors breathe life into new batch of meme stocks as Kohl's, Opendoor Technologies surge
As the stock market pushes into record territory and bargains become harder to find, investors are once again turning to some of Wall Street 's beaten down companies in hopes of a quick score. The latest so-called meme stocks are the department store Kohl's, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors. Wall Street defines a meme stock as a stock that gains significant popularity and trading volume, primarily driven by social media hype and online communities, rather than the company's fundamental financial performance. Think GameStop and AMC Entertainment in 2021, and a few subsequent instances. Often, meme stocks are initially the target of 'short sellers,' or investors betting against the stock. If other investors start buying the shares and boost the price, that could prompt the people betting against the stock to buy more shares to cushion their own losses. Kohl's Kohl's, which operates 1,600 stores across the country, has risen almost 50% this week as of midday Tuesday. It is wrestling with a number of challenges including a revolving door of CEOs and weak sales. In May, it announced it had terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl's named Chairman Michael Bender as interim CEO as it searches for a replacement. Buchanan's appointment marked the third CEO for Kohl's in three years as the department store struggles to reverse sluggish sales. Its middle income shoppers have pulled back on discretionary spending in the face of still-high prices for necessities. It's also faced stiff competition from Walmart and Amazon, which have been improving their fashion offerings at affordable prices. Now, like many retailers, it's facing higher costs from President Donald Trump's tariffs. Opendoor Technologies Opendoor shares are up more than 40% this week after nearly tripling last week. Overall, they are up more than fivefold in July, trading at $2.81 per share Tuesday afternoon. That's still far below their peak of $35.88 in early 2021. The stock's recent gains come as hedge fund manager Eric Jackson touts the stock on X, formerly known as Twitter. On July 14, he said his hedge fund, EMJ Capital, took a position in Opendoor and expects growth over the next few years. The real estate services company, which also buys and flips homes, has yet to notch an annual profit. Analysts polled by FactSet expect it to continue posting losses in 2025 and 2026. The company faces a tough housing market. Soaring interest rates and a low supply of homes on the market have made it difficult for homebuyers. Those same factors have also made it less likely for current homeowners to sell their homes, especially those with lower interest rates. Meme stock history The original meme stock is video game retailer GameStop. In 2021, the company was struggling to survive amid the switch from discs to digital downloads and major investors were betting against the company. Investor Keith Gill, better known as 'Roaring Kitty,' rallied other investors to join him in buying up thousands of GameStop shares, changing the trajectory of the stock. GameStop had been trading under $5 heading into 2021. The stock was trading around $23 as of Tuesday. The initial meme stock craze eventually fizzled out. But the frenzy occasionally reignites, as seen the past few years with sudden gains for BlackBerry, Bed, Bath & Beyond, and Chewy. What are the risks of joining in? Investors who buy now are betting that the momentum will continue, but it can shift suddenly. It took just four weeks in 2021 for GameStop's stock to go from less than $5 to more than $120. But it has yet to touch that price again. Blackberry quickly jumped from less than $7 to nearly $30 in early 2021, but the gains were shaky and trimmed back within a year. It is now trading at about $4. ___ AP Business Writer Anne D'Innocenzio contributed to this report.
Miami Herald
03-07-2025
- Business
- Miami Herald
Kohl's makes desperate move to keep customers away from rivals
Over the past few months, department store chain Kohl's (KSS) has had a rough time resonating with consumers as many battle inflation and a higher cost of living, which have had a major impact on sales. In its first-quarter earnings report for 2025, Kohl's revealed that net sales decreased by 4% year-over-year during the quarter. Don't miss the move: Subscribe to TheStreet's free daily newsletter Also, recent data from found that the average number of customers that visited Kohl's stores during the quarter dipped by 2.7% year-over-year. Related: Kohl's makes major store changes to win back customers Amid low sales, Kohl's decided to close 27 underperforming stores in 15 states, a move that was completed in April this year. During an earnings call in May, Kohl's Interim CEO Michael Bender said the company has noticed that some of its customers are "stressed" financially. "People are trying to figure out how to make sense of the dollars that they have to spend, and they're prioritizing where they want to put it," said Bender. Kohl's Chief Financial Officer Jill Timm also said during the call that middle- and low-income customers are "the most pressured," which is causing them to seek value and lower prices. She also said that Kohl's decision to shrink its in-store jewelry business, exit the petites business, and decrease inventory in proprietary brands contributed to a loss of customers. Image source:Amid these challenges, Kohl's has recently made a huge effort to win back customers, especially when it is facing a major threat from top competitors. Kohl's has announced "deep discounts" on family essentials in footwear, apparel, home, accessories, and back-to-school items through the return of its Summer Cyber Deals event, which will take place between July 7 and July 10, according to a new press release. Related: Dollar Tree raises red flag about unexpected customer behavior Kohl's said these discounts will be available in stores and online, and hundreds of "only-at-Kohl's" items will be priced under $20. The retailer is also offering free shipping on all online orders during this event. Some of the deals Kohl's is offering include T-shirts and tank tops starting at $5.99, 30% off backpacks and lunch bags, up to 40% off "leading brands" such as Adidas, Nike, and Under Armour for kids and babies, 50% off kitchen appliances, and 60% off bedding. In addition to steep discounts, Kohl's is offering all shoppers $10 in Kohl's Cash for every $50 they spend on qualifying merchandise. It will also roll out one-day deals on select products across beauty, apparel, home, etc. The move from Kohl's comes after Timm said during the May earnings call that the company realized it "disappointed" its core customer by excluding too many brands from its coupons. To fix this error, Kohl's vowed to add more brands back to these offers. "We are bringing products back into the coupon, so we do think being more promotional and having value orientation throughout the year is gonna be important, particularly because this middle-income customer that we serve is pretty stretched in today's environment," said Timm. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersAT&T makes generous offer to older customers Kohl's Summer Cyber Deals also appears to be a direct response to Amazon's Prime Day sales event, which will offer significant discounts to consumers on a wide range of products between July 8th and July 11th. Target, another rival of Kohl's, also recently announced that it will make back-to-school shopping "more affordable" for customers this summer by "maintaining last year's prices on must-have supplies." Target said that over 1,000 back-to-school items in its stores will be under $5. It will also roll out discounts for students and teachers through its Target Circle app. Related: Home Depot, Amazon, Starbucks suffer major boycott from customers The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Bloomberg
13-06-2025
- Business
- Bloomberg
Kohl's CEO Tries to Reverse Record-Low Morale in Latest Address
Kohl's Corp. 's interim Chief Executive Officer Michael Bender tried to quell employee unrest during one of his first all-hands calls since replacing Ashley Buchanan last month. During the meeting, the company's Chief People Officer Mari Steinmetz said employee engagement was at its lowest in more than 15 years, according to a recording viewed by Bloomberg News that referenced a company survey. The retailer also told staff that a huge number of employees commented on the survey — some sharing concerns, according to a video recording viewed by Bloomberg News.
Business Journals
09-06-2025
- Business
- Business Journals
Five things you need to know today, and when is a house a home?
Happy Monday, Cincinnati! Here we are at the precipice of a new week. Let's jump into it. 1) Kohl's shutting down local facility, laying off nearly 800 National retailer Kohl's is closing its Middletown e-fulfillment center, which will result in the loss of 768 jobs. The center, open since 2001, is one of 14 the retailer has across the country. From interim CEO Michael Bender, 'Ultimately, it's a necessary step to strengthen our operational discipline, drive greater cost efficiency and ensure the long-term health of our business – for our customers, our associates and the future of our company.' 2) Developer details changes to $69M Covington riverfront project Silverman & Co. has shown off refined designs, which include additional residential units, for the largest announced project to date at the Covington Central Riverfront site. The developer is building 275 apartments on 1.3 acres across two blocks at the sprawling 23-acre site of the former IRS building. 3) One of Cincinnati's largest nonprofits seeks new CEO Kurt Reiber, CEO of the Freestore Foodbank, is going to retire next year after 15 years on the job. The nonprofit, the eighth-largest in the region, according to Courier research, is partnering with BroadView Talent Partners on a national search to find his successor. Do you like Five Things? Make sure to subscribe to our Morning Edition emails so you have it in your inbox each day. 4) Planning Commission acts on proposed Bengals tailgating parking lots One of the conditions the Bengals made to allow the Andrew J. Brady Music Center to be built at the Banks was that the former Hilltop concrete plant be demolished and redeveloped into a parking lot that could be used for tailgating on game days. That was supposed to be done by 2021. But just last week, the Cincinnati Planning Commission voted on a zoning change to move the project forward, albeit on what could only be a temporary basis. 5) See the latest progress of $260M upgrade to home of Cincinnati Open Finishing out this morning with Steve Watkins, who brings us the latest on the $260 million in upgrades to the Lindner Family Tennis Center in Mason, which is slated to be spiffied up in time for the 2025 Cincinnati Open tennis tournament. On the calendar Cincy Inno, a Business Courier sister pub, is hosting the Fire Awards at UC's 1819 Innovation Hub June 11. The event features the region's hottest startups. Get your ticket before it's too late here. This day in history 68: Roman Emperor Nero commits suicide, having his secretary Epaphroditos slit his throat to avoid a Senate-ordered execution by flogging. What I'm reading 'The Oligarch's Daughter' by Joseph Finder What I'm watching 'X-Men '97' on Disney+ Good stuff on Spotify 'Bath of Least Resistance' by NOFX What I'm playing Destiny 2 on PlayStation 5 When does a house begin to feel like a home? I can anticipate your criticism already: 'Again? Another column about moving?' 'We get it, you're moving, give it a rest.' I'll try to keep it short. And this will be the last one. I promise. I hope. Tomorrow is Moving Day. I followed the advice of many of you who took the time to write me and hired professional help, so the next real ordeal is in unpacking. I write this, sitting on the floor of my new family room in a house that is devoid of all furniture, having just had the Spectrum guy set up my internet. It still feels like a stranger's home. It smells like a stranger's home. I'm listening to the background noise of a stranger's life: Lawn mowers and leaf blowers employed by new neighbors I don't yet know. When does a new house begin to feel like home? Is it when you've unpacked and organized everything? When you're able to fit both cars inside the garage? When you've developed new routines? In year two when those routines begin to feel, well, routine? In my current (old) house, it happened so gradually that it went uncelebrated, unrecognized. One day it was just home. I spent a grand total of less than an hour in this house before getting the keys, between the first showing to the inspection to the final walkthrough. Of course it'll be an adjustment. But it's an adjustment I'm excited to make, the culmination of a two-year search that's now finally ended. Wish me luck tomorrow.
