Kohl’s stock fell Tuesday as analysts trimmed their expectations for the department store, which for now appears poised to remain an independent company.
Kohl’s said on Friday that it had ended buyout negotiations with Franchise Group. Takeover talk had buoyed Kohl’s (ticker: KSS) for much of the first half of the year, as Barron’s noted that going private would mean shareholders wouldn’t have to navigate what’s shaping up to be a tricky year for retail. Yet downbeat earnings and a worrisome outlook for consumer spending reportedly led to Franchise Group (FRG) wanting to lower its offer. After walking away from the table, Kohl’s ended its strategic review process and lowered its sales outlook for the second quarter.