The risk of owning Kohl’s Corp. debt is climbing the most of any U.S. department store chain as the company embarks on $3.5 billion of stock buybacks after failing to meet its sales targets during the holiday season.
Credit-default swaps linked to Kohl’s have surged 96 basis points since Nov. 28, making obligations of the Menomonee Falls, Wisconsin-based firm the riskiest ever relative to Macy’s Inc. and Target Corp. Kohl’s cut its fourth-quarter earnings expectations on Jan. 3 after selling products at deeper discounts than planned in December.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]