×
63 815
Fashion Jobs
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Freehold Raceway
Permanent · Freehold Township
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Brea
Permanent · Brea
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Oakbrook
Permanent · Oak Brook
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Northshore
Permanent · Peabody
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Mall at Millenia
Permanent · Orlando
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Deerbrook
Permanent · Humble
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Cielo Vista
Permanent · El Paso
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Fashion Square
Permanent · Scottsdale
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Bridgewater Commons
Permanent · Bridgewater Township
GAP INC.
Senior Manager, Change Management - Digital Product Creation
Permanent · San Francisco
GAP INC.
Director, Product Management - Customer Analytics
Permanent · San Francisco
GAP INC.
Associate Analyst, Finance
Permanent · Albuquerque
GAP INC.
Manager, Ecommerce Performance Analysis
Permanent · San Francisco
ATHLETA
General Manager - Victoria Gardens
Permanent · Rancho Cucamonga
MICHAEL KORS
Operations Manager
Permanent · Woodbury
MICHAEL KORS
Sales Supervisor pt, Walt Whitman Shops, Huntington ny 11746
Permanent · Huntington
DISTRIBUTION CENTERS
Quality Control Manager - Supply Chain
Permanent · Dallas
CORPORATE
sr Manager, Email Marketing, Performance Optimization & Mobile Marketing
Permanent · Dallas
NEIMAN MARCUS
Sales Manager, Men's Department - Michigan Avenue
Permanent · Chicago
TALENT
District Manager
Permanent · Nashville
TALENT
District Manager
Permanent · Leesburg
TALENT
District Manager
Permanent · Hartford
By
Reuters
Published
Jun 22, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Franchise Group in talks to keep Kohl's management team after a sale

By
Reuters
Published
Jun 22, 2022

Franchise Group, the preferred bidder to acquire Kohl's, is in discussions to keep the retailer's top management team, including CEO Michelle Gass, if the planned sale is finalized, three sources familiar with the matter said.


Reuters


​Franchise Group, which owns brands including Vitamin Shoppe and Buddy's Home Furnishings, joined the bidding for Kohl's in April and earlier this month agreed to a three week-period of exclusive talks after offering to pay around $60 a share.

Franchise Group executives have signaled confidence in Gass and members of her management team, the sources said, noting that Franchise Group is known to buy businesses that have operating teams in place. The sources requested anonymity to talk about private discussions.

Gass has been steering the sale process, sparked by activist investors' demands, and in May fended off a bid by Macellum Advisors for Kohl's board seats. Investors appeared to agree with the company as it argued that seating new directors now could scuttle the sales process.

Gass, who joined the Menomonee Falls, Wisconsin-based retailer in 2013 as its chief customer officer, has been CEO since May 2018.

A representative for Kohl's could not be reached and a representative for Franchise Group did not immediately respond to a request for comment.

Kohl's in May cut its earnings forecast for the year, warning of weaker sales amid high inflation, even after it tried to bring in more customers through partnerships with Amazon and beauty retailer Sephora.

As the sales process heated up, questions swirled around the future of the department store's top executives. In May, Kohl's said its chief merchandising officer and chief marketing officer would be leaving the company soon, news that sent the share price lower.

Reuters reported in April that Franchise Group had joined the bidding for Kohl's. read more

Since then bidders submitted best and final offers which were below indicative bids, reflecting the market downturn and the U.S. retailer's deteriorating business

© Thomson Reuters 2022 All rights reserved.