topic Re: JC Penney Makes Offer to Buy Kohl’s in Community Chat

The company that owns JC Penney Makes Offer to Buy Kohl’s

4kitties — Thu, 28 Apr 2022 14:27:18 GMT

Just read this in The Daily Mail.

Hate to hear this as I love Kohl's. 😩😩😩

Re: JC Penney Makes Offer to Buy Kohl’s

Mz iMac — Tue, 26 Apr 2022 01:47:51 GMT

JCP has filed bankruptcy, closed stores, etc. how many times????? Now they are flushed w/$$$$ to purchase another retail store?

Re: JC Penney Makes Offer to Buy Kohl’s

sunshine45 — Tue, 26 Apr 2022 01:57:35 GMT

i hope not!

i love our kohls. they just recently remodeled, have added a sephora inside, and they accept amazon returns with no boxes or labels required from me. so convenient. i also like when they give me $5 to spend on something in the store when i do an amazon return.

Re: JC Penney Makes Offer to Buy Kohl’s

Jordan2 — Tue, 26 Apr 2022 01:57:54 GMT

How is JC Penney in any position to acquire Kohl's, I thought they filed for bankruptcy? The Penney's near me closed.

Re: JC Penney Makes Offer to Buy Kohl’s

Kachina624 — Tue, 26 Apr 2022 02:11:42 GMT

Ask yourselves, "how reliable is The Daily Mail?"

Re: JC Penney Makes Offer to Buy Kohl’s

Mz iMac — Tue, 26 Apr 2022 02:27:07 GMT

The OP topic is misleading........

According to the article in part:

The owners of department store giant JCPenney have reportedly made a multibillion-dollar offer to acquire one of the chain's biggest rivals - Kohl's - two years after filing for bankruptcy and shutting down nearly a third of its stores.

The proposal from Simon Property and Canada-based Brookfield Asset Management - which together scooped the shopping mall stalwart out of bankruptcy in December 2020 to the tune of $1.5 billion - offers to buy the store at $68 a share, bringing the total value of the deal to $8.6 billion.

A source reportedly told The New York Post, the first to break the story, that the owners plan to maintain the identity of the two competing brands while streamlining operations and cutting costs by roughly $1 billion over the next three years.

The two chains would reportedly be run by a single management team during the initial stages of the merger, the source said. The companies also would have all of their in-house apparel manufactured by the same label.

If successful, the new business would nix previous plans to roll out Sephora stands inside its 689 Kohl’s stores, the insider revealed.

Simon Property Group and Brookfield Asset Management bought JCPenney after store brass filed for Chapter 11 in May 2020. The chain closed down nearly 200 locations across the US during the initial months of the pandemic.

Kohl's, meanwhile, has reportedly been engaged in talks with more than 20 prospective buyers about a potential sale, with company brass saying the firm is authorized to coordinate with select bidders.

The retailer said in February that it rejected all takeover offers received at that point, citing the bids as too low - including a $64-a-share offer from Acacia Research Corp., which is backed by hedge fund Starboard Value LP.

The fund has held positions in notable brands like Smithfield Foods, Yahoo, Brink's Home Security, Macy's, and Papa John's Pizza.

J.C. Penny is NOT buying or making offers to anybody!

Re: JC Penney Makes Offer to Buy Kohl’s

CAcableGirl2 — Tue, 26 Apr 2022 02:43:37 GMT

If true, that reeks of Kmart acquiring Sears. Now both retailers are gone.

I like Kohls and shop there occasionally. I can't remember the last time I was in JCPenney.

Re: JC Penney Makes Offer to Buy Kohl’s

Snowpuppy — Tue, 26 Apr 2022 03:09:36 GMT

If you follow business news it's no secret Kohl's is looking for a buyer.

I liked my local JCP back in the day. Good products and I frequented a stylist at their salon. Kohls played too many pricing games for me. Today's sale was not tomorrow's sale.

Sadly, haven't been in either store in 10 yrs. The local JCP has closed.

Re: JC Penney Makes Offer to Buy Kohl’s

elated — Tue, 26 Apr 2022 06:45:44 GMT

I always liked JCP until they closed the store near me. Kohl's store turned into a junk store. It was nice and then the store looked like you walked into a tornado. Merchandise displays were all disheveled. I quit going into the store. The petite section was even worse. JCP had a nice petite section and I was able to find many nice pieces of clothing.

Re: JC Penney Makes Offer to Buy Kohl’s

ID2 — Tue, 26 Apr 2022 10:26:12 GMT

Geez go right ahead! I don't shop Pennys or Kohl's. Horrible stores. Cheap junk is all they sell.

Re: JC Penney Makes Offer to Buy Kohl’s

AngelPuppy1 — Tue, 26 Apr 2022 11:06:16 GMT

I like Kohl's and I don't think they have cheap junk. I don't find things every time I go in there but I often do. We don't have many store around us that are decent to shop in so I would hate to lose this one. I always used to enjoy shopping in Penney's and my family shopped there as long as I can remember. It was a sad day when we lost ours and many other nearby stores.

Re: JC Penney Makes Offer to Buy Kohl’s

CalminHeart — Tue, 26 Apr 2022 11:17:24 GMT

Penneys has become the Walmart of department stores, a skeleton of its former self. I hope they don't buy Kohls.

Re: JC Penney Makes Offer to Buy Kohl’s

millieshops — Tue, 26 Apr 2022 11:49:57 GMT

@Mz iMac Thanks for the info. I knew JCP had declared bankruptcy although I don't invest in them, so I never read the details. Also knew Kohl's has been struggling - might be interesting if someone can make them more profitable.

Profits and the bottom line seem to be dirty words for many shoppers, but no profits mean no investors which leads to closures. I've watched that happen pretty much all my shopping life - maybe from when Gimbels went under decades ago and Steinmart just a few years back.

Re: JC Penney Makes Offer to Buy Kohl’s

Mz iMac — Tue, 26 Apr 2022 11:56:11 GMT

@millieshops Wow! You brought back wonderful memories when you fonted "Gimbles."

The good old days......

Lit Brothers

Wanamakers

Strawbridges

Bambergers

When females would go shopping dressed to the nines in heels & males wore suits complete w/a starch shirt & collar!

Re: JC Penney Makes Offer to Buy Kohl’s

Knit-Chick — Tue, 26 Apr 2022 12:02:18 GMT

@elated I agree about JCP's petite section! It was a really nice department years ago with a great selection. Alot of stores seem to have really gone downhill with their petite selections. I remember when our mall had Petite Sophisticates - an entire store! I loved that store!

Re: JC Penney Makes Offer to Buy Kohl’s

CelticCrafter — Tue, 26 Apr 2022 12:03:13 GMT

@Mz iMac wrote:
JCP has filed bankruptcy, closed stores, etc. how many times????? Now they are flushed w/$$$$ to purchase another retail store?

It's ridiculous, right?

Like Sears and KMart or the A & P and Pathmark.

Eventually they can both go out of business.

Re: JC Penney Makes Offer to Buy Kohl’s

Knit-Chick — Tue, 26 Apr 2022 12:04:33 GMT

I don't think JCP and Kohls sell 'cheap junk'. I find things I like at both.....

Re: JC Penney Makes Offer to Buy Kohl’s

eyeron — Tue, 26 Apr 2022 12:10:06 GMT

I actually LOVE JC Penney!! I'm fortunate to still have one in my mall and it's always well stocked and very well kept. My closet is filled with Liz Claiborne and Ana... and a few St. Johns Bay clothes. And I love their homegoods too. They have great prices and sales. I never could find clothes that fit well or hold up well from my Kohls nearby. Some things are so overpriced and not enough sales. (And I don't want to get their credit card just for their sales). I have been holding on to a Kohls gift card for the last year which stays unused because I can't find anything to buy whenever I go in there. So, in my case I'm thrilled to hear about this posibility of JC Penney buying Kohls..... but I just hope they can affort it.

Re: JC Penney Makes Offer to Buy Kohl’s

mimomof4 — Tue, 26 Apr 2022 12:18:23 GMT

@CAcableGirl2 wrote:
If true, that reeks of Kmart acquiring Sears. Now both retailers are gone.

I like Kohls and shop there occasionally. I can't remember the last time I was in JCPenney.

@CAcableGirl2 I had the exact same thought. If this happens that is the end of Kohls.

I shop at Kohls because it is the only place in my town to shop for clothes but do go months without shopping there at a time.

Re: JC Penney Makes Offer to Buy Kohl’s

Meowingkitty — Tue, 26 Apr 2022 12:28:06 GMT

@mimomof4 wrote:
@CAcableGirl2 wrote:
If true, that reeks of Kmart acquiring Sears. Now both retailers are gone.

I like Kohls and shop there occasionally. I can't remember the last time I was in JCPenney.
@CAcableGirl2 I had the exact same thought. If this happens that is the end of Kohls.

I shop at Kohls because it is the only place in my town to shop for clothes but do go months without shopping there at a time.

There goes the neighborhood. I like Kohls. I haven't been into Penney's for years but the one by me seems ok. If Penney's buys Kohl's I'm sure it will go downhill. Then all that will be left will be Macys and Dillards.