Benzinga | Apr 6, 2021 08:14AM EDT

Kohl's Shareholders, Macellum Advisors, Legion Partners, 4010 Capital Send Letter To Shareholders, 'Highlighting the Reality Behind Three Myths Being Perpetuated by Kohl's,' Urges Vote On WHITE Proxy Card

Macellum Advisors GP, LLC (together with its affiliates, "Macellum"), Ancora Holdings, Inc. (together with its affiliates, "Ancora"), Legion Partners Asset Management, LLC (together with its affiliates, "Legion Partners"), and 4010 Capital, LLC (together with its affiliates, "4010 Capital" and, together with Macellum, Ancora and Legion Partners, the "Investor Group") today issued a letter to shareholders in connection with its nominations of five candidates for election to the Board of Directors (the "Board") of Kohl's Corporation (NYSE:KSS) ("Kohl's" or the "Company"). The Investor Group is deemed to beneficially own, in the aggregate, 14,696,905 shares of the Company's common stock, including 2,447,000 shares underlying call options currently exercisable, constituting approximately 9.3% of the Company's outstanding common stock.

The letter details how several key assertions by Kohl's are nothing more than myths unsupported by reality. The full text of the letter is available at: https://createvalueatkohls.com/wp-content/uploads/2021/04/Letter-to-KSS-Shareholders_4-6-21.pdf.

For more information, visit www.CreateValueAtKohls.com.