Kohl’s Will Slow Expansion
Menomonee Falls, Wis., Kohl’s has announced it will slow its store openings in 2006 in hopes of obtaining prime locations expected to be vacated by competitors.
The company opened 95 stores this year and will open 70 to 80 more in 2006. Despite the slowdown, chairman Larry Montgomery told analysts during a conference call that the company still plans to open 200 stores over the next two years and will maintain its projected income growth.
Christopher & Banks Adds Former Galyan’s Head to Board
Minneapolis, Christopher & Banks Corp. has added Robert Mang to its board of directors. He was chairman and CEO of Galyan’s Trading Co. from 2000 to his retirement in 2004.
His addition expands the retailer’s total number of board seats to eight and the number of independent directors to six.
Tommy Hilfiger Receives Five Takeover Offers
New York City, Tommy Hilfiger has received five separate takeover offers, as the fashion design company seeks a buyer while struggling with its U.S. wholesale business, according to today’s Financial Post.
According to sources close to the company, private equity firms Apax Partners and Oaktree Capital Management have submitted bids; names of the remaining three bidders are not yet available.