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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":608220106,"tweetId":"608220106","gmtCreate":1638750423705,"gmtModify":1638750423923,"author":{"id":3565819252889467,"idStr":"3565819252889467","authorId":3565819252889467,"authorIdStr":"3565819252889467","name":"e13v3n","avatar":"https://static.tigerbbs.com/387ab24895655e32d7ddaf87ded7da37","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":47,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>k</body></html>","htmlText":"<html><head></head><body>k</body></html>","text":"k","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/608220106","repostId":1177651154,"repostType":4,"repost":{"id":"1177651154","kind":"news","pubTimestamp":1638749617,"share":"https://www.laohu8.com/m/news/1177651154?lang=zh_CN&edition=full","pubTime":"2021-12-06 08:13","market":"us","language":"en","title":"Kohl’s Urged to Consider Sale by Activist Investor<blockquote>激进投资者敦促科尔百货考虑出售</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177651154","media":"WSJ","summary":"An activist investor is urging department-store chain Kohl’s Corp.  to consider a sale of the compan","content":"An activist investor is urging department-store chain Kohl’s Corp. &nbsp;to consider a sale of the company or a separation of its e-commerce business.<blockquote>一位激进投资者敦促百货连锁店 Kohl's Corp. 考虑出售公司或剥离其电子商务业务。</blockquote> New York-based hedge fund Engine Capital LP wants the retailer to examine the two alternatives to improve its lagging stock price, according to a letter sent to Kohl’s board Sunday and viewed by The Wall Street Journal. Engine owns a roughly 1% Kohl’s stake.<blockquote>据《华尔街日报》看到的一封信称，总部位于纽约的对冲基金 Engine Capital LP 希望这家零售商研究两种方案，以改善其滞后的股价。Engine 拥有 Kohl 约 1% 的股份。</blockquote> Engine argues that the company has underperformed both the S&amp;P 500 and other retailers in recent years. Kohl’s shares closed Friday at $48.45, roughly where they were 10 years ago, giving the Menomonee Falls, Wis., company a market value of around $7 billion.<blockquote>Engine 认为，该公司近年来的表现不如标普500和其他零售商。科尔公司的股价周五收于 48.45 美元，与 10 年前大致相同，这家位于威斯康星州梅诺莫尼瀑布的公司市值约为 70 亿美元。</blockquote> Engine said in the letter that assuming online sales revenue of around $6.2 billion, Kohl’s digital business alone would be worth $12.4 billion. Engine also said it believes there are private-equity firms that would pay at least $75 a share and that interactions with potential buyers suggest they could do so by monetizing Kohl’s real estate.<blockquote>Engine 在信中表示，假设在线销售收入约为 62 亿美元，仅 Kohl 的数字业务就价值 124 亿美元。Engine 还表示，它相信有些私募股权公司愿意支付每股至少 75 美元的价格，与潜在买家的互动表明，他们可以通过将科尔的房地产货币化来做到这一点。</blockquote> Kohl’s didn’t immediately respond to a request for comment.<blockquote>科尔百货公司没有立即回应置评请求。</blockquote> Kohl’s has said it previously concluded that such sale-leasebacks wouldn’t add value. On its most recent earnings call Chief Executive Michelle Gass seemed to push back against the idea of separating its e-commerce unit by saying it works in tandem with the company’s stores. Earlier this year, Kohl’s reinstated a dividend and boosted its share repurchases. It is also investing in its new partnership with Sephora and another e-commerce fulfillment center and updating more than half of its more than 1,000 stores. Kohl’s in November reported better-than-expected fiscal third-quarter earnings and raised its full-year guidance.<blockquote>科尔百货公司表示，它之前的结论是，这种售后回租不会增加价值。在最近的财报中，看涨期权首席执行官米歇尔-加斯（Michelle Gass）似乎对剥离电子商务部门的想法进行了反击，称该部门与公司的商店协同工作。今年早些时候，科尔百货公司恢复了股息，并增加了股票回购。该公司还投资与丝芙兰和另一家电子商务履行中心建立新的合作伙伴关系，并更新其 1,000 多家商店中的一半以上。科尔百货公司 11 月份公布的第三财季收益好于预期，并上调了全年业绩指引。</blockquote> The idea of separating a department store’s fast-growing e-commerce business from its retail stores has gained popularity following Saks Fifth Avenue’s move earlier this year to spin off Saks.com. While customers won’t notice much of a difference, it gives investors the opportunity to buy into only the faster-growing segment, which could boost its value. The Saks unit aims to go public in the first half of 2022 with a target valuation of roughly $6 billion—three times what it was pegged at earlier this year—the Journal has reported.<blockquote>今年早些时候，萨克斯第五大道百货公司（Saks Fifth Avenue）将快速增长的电子商务业务从零售店中分离出来后，将百货公司快速增长的电子商务业务从零售店中分离出来的想法越来越受欢迎。虽然客户不会注意到太大的差异，但这让投资者有机会只买入增长较快的细分市场，从而提高其价值。据《华尔街日报》报道，萨克斯百货公司计划于 2022 年上半年上市，目标估值约为 60 亿美元，是今年早些时候估值的三倍。</blockquote> That prompted Macy’s Inc. to hire consulting firm AlixPartners to evaluate whether it makes sense to spin off its e-commerce operations, a move that followed pressure from an activist investor. Macy’s shares soared 21% Nov. 18, the day the move was announced, though they have dropped along with the broader market since then.<blockquote>这促使梅西百货公司聘请咨询公司 AlixPartners 来评估剥离其电子商务业务是否合理，此举是在一位激进投资者的压力下做出的。11 月 18 日，也就是宣布此举的当天，梅西百货的股价飙升了 21%，但此后梅西百货的股价与大盘一起下跌。</blockquote> Kohl’s was targeted in early 2021 by a group of four activists who aimed to replace a majority of its board. The stock rose in the following months, and the two sides eventually reached a truce that added three new directors to Kohl’s board. Under the agreement, the activists—Macellum Advisors GP LLC, Ancora Holdings Inc. and Legion Partners Asset Management LLC, as well as 4010 Capital LLC—could launch another proxy fight beginning Jan. 12.<blockquote>2021 年初，科尔百货公司成为四名活动人士的目标，他们的目标是更换公司董事会的大多数成员。在接下来的几个月里，科尔的股价上涨，双方最终达成休战协议，科尔的董事会增加了三名新董事。根据协议，活动人士——Macellum Advisors GP LLC、Ancora Holdings Inc.和Legion Partners Asset Management LLC以及4010 Capital LLC——可能会从1月12日开始发起另一场代理权斗争。</blockquote> Engine was founded by Arnaud Ajdler and has roughly $400 million under management. It held a Kohl’s stake of less than 1% as of Sep. 30, the most recent date for which it was required to report holdings. Engine is best-known for calling on Ann Inc. to sell itself in 2015, which the Ann Taylor parent company did the following year.<blockquote>Engine 由 Arnaud Ajdler 创立，管理着大约 4 亿美元。截至 9 月 30 日（该公司被要求报告持股情况的最近日期），该公司持有的 Kohl 股份不到 1%。Engine 最出名的是呼吁 Ann Inc. 在 2015 年出售自己，Ann Taylor 母公司在第二年也这样做了。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kohl’s Urged to Consider Sale by Activist Investor<blockquote>激进投资者敦促科尔百货考虑出售</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKohl’s Urged to Consider Sale by Activist Investor<blockquote>激进投资者敦促科尔百货考虑出售</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nWSJ2021-12-06 08:13\n\n</h4>\n</header>\n<article>\nAn activist investor is urging department-store chain Kohl’s Corp. &nbsp;to consider a sale of the company or a separation of its e-commerce business.<blockquote>一位激进投资者敦促百货连锁店 Kohl's Corp. 考虑出售公司或剥离其电子商务业务。</blockquote> New York-based hedge fund Engine Capital LP wants the retailer to examine the two alternatives to improve its lagging stock price, according to a letter sent to Kohl’s board Sunday and viewed by The Wall Street Journal. Engine owns a roughly 1% Kohl’s stake.<blockquote>据《华尔街日报》看到的一封信称，总部位于纽约的对冲基金 Engine Capital LP 希望这家零售商研究两种方案，以改善其滞后的股价。Engine 拥有 Kohl 约 1% 的股份。</blockquote> Engine argues that the company has underperformed both the S&amp;P 500 and other retailers in recent years. Kohl’s shares closed Friday at $48.45, roughly where they were 10 years ago, giving the Menomonee Falls, Wis., company a market value of around $7 billion.<blockquote>Engine 认为，该公司近年来的表现不如标普500和其他零售商。科尔公司的股价周五收于 48.45 美元，与 10 年前大致相同，这家位于威斯康星州梅诺莫尼瀑布的公司市值约为 70 亿美元。</blockquote> Engine said in the letter that assuming online sales revenue of around $6.2 billion, Kohl’s digital business alone would be worth $12.4 billion. Engine also said it believes there are private-equity firms that would pay at least $75 a share and that interactions with potential buyers suggest they could do so by monetizing Kohl’s real estate.<blockquote>Engine 在信中表示，假设在线销售收入约为 62 亿美元，仅 Kohl 的数字业务就价值 124 亿美元。Engine 还表示，它相信有些私募股权公司愿意支付每股至少 75 美元的价格，与潜在买家的互动表明，他们可以通过将科尔的房地产货币化来做到这一点。</blockquote> Kohl’s didn’t immediately respond to a request for comment.<blockquote>科尔百货公司没有立即回应置评请求。</blockquote> Kohl’s has said it previously concluded that such sale-leasebacks wouldn’t add value. On its most recent earnings call Chief Executive Michelle Gass seemed to push back against the idea of separating its e-commerce unit by saying it works in tandem with the company’s stores. Earlier this year, Kohl’s reinstated a dividend and boosted its share repurchases. It is also investing in its new partnership with Sephora and another e-commerce fulfillment center and updating more than half of its more than 1,000 stores. Kohl’s in November reported better-than-expected fiscal third-quarter earnings and raised its full-year guidance.<blockquote>科尔百货公司表示，它之前的结论是，这种售后回租不会增加价值。在最近的财报中，看涨期权首席执行官米歇尔-加斯（Michelle Gass）似乎对剥离电子商务部门的想法进行了反击，称该部门与公司的商店协同工作。今年早些时候，科尔百货公司恢复了股息，并增加了股票回购。该公司还投资与丝芙兰和另一家电子商务履行中心建立新的合作伙伴关系，并更新其 1,000 多家商店中的一半以上。科尔百货公司 11 月份公布的第三财季收益好于预期，并上调了全年业绩指引。</blockquote> The idea of separating a department store’s fast-growing e-commerce business from its retail stores has gained popularity following Saks Fifth Avenue’s move earlier this year to spin off Saks.com. While customers won’t notice much of a difference, it gives investors the opportunity to buy into only the faster-growing segment, which could boost its value. The Saks unit aims to go public in the first half of 2022 with a target valuation of roughly $6 billion—three times what it was pegged at earlier this year—the Journal has reported.<blockquote>今年早些时候，萨克斯第五大道百货公司（Saks Fifth Avenue）将快速增长的电子商务业务从零售店中分离出来后，将百货公司快速增长的电子商务业务从零售店中分离出来的想法越来越受欢迎。虽然客户不会注意到太大的差异，但这让投资者有机会只买入增长较快的细分市场，从而提高其价值。据《华尔街日报》报道，萨克斯百货公司计划于 2022 年上半年上市，目标估值约为 60 亿美元，是今年早些时候估值的三倍。</blockquote> That prompted Macy’s Inc. to hire consulting firm AlixPartners to evaluate whether it makes sense to spin off its e-commerce operations, a move that followed pressure from an activist investor. Macy’s shares soared 21% Nov. 18, the day the move was announced, though they have dropped along with the broader market since then.<blockquote>这促使梅西百货公司聘请咨询公司 AlixPartners 来评估剥离其电子商务业务是否合理，此举是在一位激进投资者的压力下做出的。11 月 18 日，也就是宣布此举的当天，梅西百货的股价飙升了 21%，但此后梅西百货的股价与大盘一起下跌。</blockquote> Kohl’s was targeted in early 2021 by a group of four activists who aimed to replace a majority of its board. The stock rose in the following months, and the two sides eventually reached a truce that added three new directors to Kohl’s board. Under the agreement, the activists—Macellum Advisors GP LLC, Ancora Holdings Inc. and Legion Partners Asset Management LLC, as well as 4010 Capital LLC—could launch another proxy fight beginning Jan. 12.<blockquote>2021 年初，科尔百货公司成为四名活动人士的目标，他们的目标是更换公司董事会的大多数成员。在接下来的几个月里，科尔的股价上涨，双方最终达成休战协议，科尔的董事会增加了三名新董事。根据协议，活动人士——Macellum Advisors GP LLC、Ancora Holdings Inc.和Legion Partners Asset Management LLC以及4010 Capital LLC——可能会从1月12日开始发起另一场代理权斗争。</blockquote> Engine was founded by Arnaud Ajdler and has roughly $400 million under management. It held a Kohl’s stake of less than 1% as of Sep. 30, the most recent date for which it was required to report holdings. Engine is best-known for calling on Ann Inc. to sell itself in 2015, which the Ann Taylor parent company did the following year.<blockquote>Engine 由 Arnaud Ajdler 创立，管理着大约 4 亿美元。截至 9 月 30 日（该公司被要求报告持股情况的最近日期），该公司持有的 Kohl 股份不到 1%。Engine 最出名的是呼吁 Ann Inc. 在 2015 年出售自己，Ann Taylor 母公司在第二年也这样做了。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.wsj.com/articles/engine-capital-urges-kohl-s-to-consider-e-commerce-separation-11638745345?mod=hp_lead_pos4\">WSJ</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KSS":"柯尔百货"},"source_url":"https://www.wsj.com/articles/engine-capital-urges-kohl-s-to-consider-e-commerce-separation-11638745345?mod=hp_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177651154","content_text":"An activist investor is urging department-store chain Kohl’s Corp.  to consider a sale of the company or a separation of its e-commerce business.\nNew York-based hedge fund Engine Capital LP wants the retailer to examine the two alternatives to improve its lagging stock price, according to a letter sent to Kohl’s board Sunday and viewed by The Wall Street Journal. Engine owns a roughly 1% Kohl’s stake.\nEngine argues that the company has underperformed both the S&P 500 and other retailers in recent years. Kohl’s shares closed Friday at $48.45, roughly where they were 10 years ago, giving the Menomonee Falls, Wis., company a market value of around $7 billion.\nEngine said in the letter that assuming online sales revenue of around $6.2 billion, Kohl’s digital business alone would be worth $12.4 billion. Engine also said it believes there are private-equity firms that would pay at least $75 a share and that interactions with potential buyers suggest they could do so by monetizing Kohl’s real estate.\nKohl’s didn’t immediately respond to a request for comment.\nKohl’s has said it previously concluded that such sale-leasebacks wouldn’t add value. On its most recent earnings call Chief Executive Michelle Gass seemed to push back against the idea of separating its e-commerce unit by saying it works in tandem with the company’s stores. Earlier this year, Kohl’s reinstated a dividend and boosted its share repurchases. It is also investing in its new partnership with Sephora and another e-commerce fulfillment center and updating more than half of its more than 1,000 stores. Kohl’s in November reported better-than-expected fiscal third-quarter earnings and raised its full-year guidance.\nThe idea of separating a department store’s fast-growing e-commerce business from its retail stores has gained popularity following Saks Fifth Avenue’s move earlier this year to spin off Saks.com. While customers won’t notice much of a difference, it gives investors the opportunity to buy into only the faster-growing segment, which could boost its value. The Saks unit aims to go public in the first half of 2022 with a target valuation of roughly $6 billion—three times what it was pegged at earlier this year—the Journal has reported.\nThat prompted Macy’s Inc. to hire consulting firm AlixPartners to evaluate whether it makes sense to spin off its e-commerce operations, a move that followed pressure from an activist investor. Macy’s shares soared 21% Nov. 18, the day the move was announced, though they have dropped along with the broader market since then.\nKohl’s was targeted in early 2021 by a group of four activists who aimed to replace a majority of its board. The stock rose in the following months, and the two sides eventually reached a truce that added three new directors to Kohl’s board. Under the agreement, the activists—Macellum Advisors GP LLC, Ancora Holdings Inc. and Legion Partners Asset Management LLC, as well as 4010 Capital LLC—could launch another proxy fight beginning Jan. 12.\nEngine was founded by Arnaud Ajdler and has roughly $400 million under management. It held a Kohl’s stake of less than 1% as of Sep. 30, the most recent date for which it was required to report holdings. Engine is best-known for calling on Ann Inc. to sell itself in 2015, which the Ann Taylor parent company did the following year.","news_type":1,"symbols_score_info":{"KSS":0.9}},"isVote":1,"tweetType":1,"viewCount":1385,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/608220106"}