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Kohl’s shares close lower on Friday, retailer announces multi-year extension of credit card tie-up with Capital One

Kohl’s Corp (KSS) and Capital One, National Association, a subsidiary of Capital One Financial Corporation (COF), announced last week a multi-year extension of their credit card partnership.

This has been the second contract extension, following one that occurred in 2014.

The contract extension enables consumers to expand buying power and also further solidifies an already robust partnership.

Kohl’s high product standards and its focus on customer service extends through its private label credit card program, Kohl’s Card, with which cardholders are able to access exclusive offers, guaranteed savings and online payment services.

“The Kohl’s credit program is an invaluable piece of our loyalty program and we are pleased to continue this important partnership with Capital One to bring the best value to our customers,” Greg Revelle, Kohl’s Chief Marketing Officer, said in a statement.

“For many years, Capital One has been a strong partner and we look forward to building upon our work together to innovate and drive excellence in the customer experience.”

Kohl’s loyalty offerings include Kohl’s Card, Kohl’s Rewards as well as the iconic Kohl’s Cash coupons.

Kohl’s shares closed lower for a second consecutive trading session in New York on Friday. The stock went down 0.16% ($0.10) to $62.43, after touching an intraday low at $61.25. The latter has been a price level not seen since March 16th ($54.10).

Shares of Kohl’s Corporation have risen 26.40% so far in 2022, following another 21.38% gain in 2021.

Analyst stock price forecast and recommendation

According to TipRanks, at least 6 out of 13 surveyed investment analysts had rated Kohl’s Corp’s stock as “Buy”, while 5 – as “Hold”. The median price target on the stock stands at $64.08.

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