Is Kohl’s planning to buy At Home?
MENOMENEE FALLS, Wis. – Reuters is reporting that department store chain Kohl’s has taken steps to acquire At Home, the Plano, Texas-based home décor chain.
Citing unnamed sources, Reuters is reporting that Kohl’s, “recently started conversations with At Home Group to explore a deal.” The home décor retailer has been exploring potential sale options for the last three months and is said to be in “advanced deal negotiations” with private equity firms, including Hellman & Friedman LLC according to the report.
Kohl’s has pursued a number of strategies recently to expand its customer base, including signing a deal with Amazon.com to merchandise Echo dot speakers and Amazon Kindle’s. This follows a pilot program to accept Amazon returns at Kohl’s stores; a program that will be expanded to all Kohl’s stores in July.
Kohl’s has also teamed with Popsugar on a new line of clothing and with Weight Watchers on a series of workshops and events in Chicago to boost sales of cookware and kitchenware.
Kohl’s has been investing in several new partnerships to bring in more shoppers. It signed a deal with Amazon.com Inc to display its Echo dot speakers and Kindle e-readers in its stores, while it partnered with Millennials-focused Popsugar to launch a new line of clothes.
At Home’s stock price is up approximately three percent today, while Kohl’s stock is off slightly, trading at $64.04 this afternoon after starting the day at $64.43.
At Home currently operates 185 locations, with a strong product concentration in home furnishings.