Franchise Group Inc

People walk near a Kohl's department store entranceway on June 07, 2022 in Doral, Florida.Joe Raedle | Getty ImagesKohl's on Thursday again slashed its financial forecast for the year, saying its middle-income customers have been particularly pressured by higher inflation, putting a damper on sales of apparel, shoes and other discretionary items.The retailer said shoppers are making fewer trips to stores, spending less money per transaction and opting more for Kohl's less-expensive private brands. In-house labels have…

People walk near a Kohl's department store entranceway on June 07, 2022 in Doral, Florida.Joe Raedle | Getty ImagesKohl's said its chief technology and supply chain officer, Paul Gaffney, is set to depart the retailer on Aug. 1, according to a securities filing.Kohl's said that Siobhan Mc Feeney, who has been with Kohl's since January 2020 and most recently served as executive vice president of the retailer's technology division, is set to step into the chief technology role, effective immediately.The current executive…

People walk near a Kohl's department store entranceway on June 07, 2022 in Doral, Florida.Joe Raedle | Getty ImagesKohl's might not be selling its business after all. But it's now looking to sell some of its real estate, reversing its prior stance.The retailer on Friday announced it terminated deal talks with The Vitamin Shoppe owner Franchise Group, confirming CNBC's reporting from Thursday evening. Instead, Kohl's said, it will continue to operate as a standalone public company.Kohl's for months has been pressured by…

Check out the companies making headlines in midday trading.Micron Technology – Shares of the chipmaker fell about 6% after the company issued disappointing fiscal fourth-quarter guidance and said weakening consumer demand will hurt smartphone sales. The warning pulled down other chip stocks, which were among the top decliners in the S&P 500. Western Digital and On Semiconductor each lost more than 5%. Nvidia, Qualcomm and Advanced Micro Devices all pulled back by more than 3%.Kohl's — The retailer's stock cratered 21%…

A Kohl's store in San Rafael, Calif.Getty ImagesKohl's is terminating talks to sell its business to The Vitamin Shoppe owner Franchise Group, two people familiar with the matter told CNBC on Thursday.The people requested anonymity because a decision from Kohl's has not been publicly announced.Representatives from Kohl's and Franchise Group didn't immediately respond to CNBC's requests for comment.This decision from Kohl's comes as its stock price slumps and its sales decline. It has faced months of pressure from activist…

People walk near a Kohl's department store entranceway on June 07, 2022 in Doral, Florida. Kohl’s announced that it has entered into exclusive negotiations with Franchise Group, which is proposing to buy the retailer for $60 per share. Joe Raedle | Getty ImagesRetail holding company Franchise Group is weighing lowering its bid for Kohl's to closer to $50 per share from about $60, according to a person familiar with the deal talks.Kohl's shares dropped more than 8% on Wednesday afternoon to roughly $39 per share. They…

Shoppers enter a Kohl's store in Peoria, Illinois.Daniel Acker | Bloomberg | Getty ImagesA little-known conglomerate of companies including The Vitamin Shoppe, Pet Supplies Plus and a home furnishing chain called Buddy's is suddenly the talk of the retail industry.Franchise Group, a publicly traded business with a market capitalization of about $1.6 billion, has entered into exclusive sale talks with Kohl's. It proposed a bid of $60 per share to acquire the retailer at a roughly $8 billion valuation. Franchise Group and…

FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | ReutersCheck out the companies making headlines in midday trading.Target — Shares of the retailer fell more than 4% after the company said it will take a short-term hit to profits as it cancels orders and marks down unwanted merchandise. CEO Brian Cornell said the big-box retailer wants to clear room for merchandise including groceries and back-to-school supplies.Kohl's — The department…