Kohl’s expects bids from potential buyers soon

• The retailer missed earnings estimates and cut its profit and sales outlook for the year

Kohl’s Corp (NYSE: KSS) said on Thursday that bids from potential buyers are expected in the coming weeks, amid pressure from activists to sell.

Activist hedge fund Macellum Advisors had earlier in January asked the retailer to find a new owner as Kohl’s sales have not shown strong growth.

For the fiscal first quarter, Kohl’s missed earnings estimates and cut its profit and sales outlook for the year.