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JCPenney Pursuit of Kohl’s – Real Estate Push More Than Strategic Play
The owner companies behind JCPenney have reportedly made an offer to buy Kohl’s for more than $8.5B. It would be a major move for the two rival department-store chains.
Ray Wimer is an assistant professor of retail practice at Syracuse University’s Martin J. Whitman School of Management. Professor Wimer has spoken extensively about retail industry trends, bankruptcy proceedings, and retail company mergers. He provides comments below and is available for interviews.
Professor Wimer says:
“This is the fourth or fifth bid offer I have seen for Kohl’s. The activist investors that hold Kohl’s stock are pushing for this merger.
“It does not seem to make much sense from a retail standpoint as Kohl’s strategy is on track moving forward and that includes having Sephora in stores. This merger would stop the Sephora in-store piece.
“Since it is not JCPenney, but Simon and Brookfield behind this acquisition, I see it as more as a real estate push over a strategic play in the retail industry.”
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