Macellum Capital Management stepped up its activist campaign ahead of Kohl’s May 11 Annual Meeting with a 168-page presentation outlining its case for a shakeup of the embattled retailer’s boardroom. The firm restated its constant charges of poor strategy and erosion of shareholder confidence, along with presenting its first detailed criticisms of store level operations, its own alternatives and promoting its slate for delivering on those changes. The firm charted stock declines at 13% since KSS’ last investor day and said it expected a 19% drop in EBIT through 2024 based on rising SG&A, CapEx and inventory in the retailer’s ... Log in to view full article.