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As Buyout Rumors Persist, Kohl’s Beefs up Cardholder Benefits

Kohl's is offering cardholders more rewards on purchases.

Kohl’s is rolling out updates to its Kohl’s Rewards program nationwide that will provide Rewards members who use their Kohl’s card for purchases 50% more rewards than before.

Previously, all Kohl’s Rewards members earned 5% in rewards regardless of payment method, but now Kohl’s Rewards members who pay with their Kohl’s Card will receive 7.5% rewards. Rewards members who choose an alternate payment method will continue to receive 5% rewards. All other elements of the rewards program will remain the same, with Rewards balances being converted into Kohl’s Cash coupons each month that are valid for 30 days.

“Customers love our simplified Kohl’s Rewards program that leverages personalized offers and Kohl’s Cash,” said Greg Revelle, Kohl’s Chief Marketing Officer in a statement. “We partnered closely with store associates and customers to understand how we could make our benefits even more robust.”

Kohl’s first piloted the program enhancement in 100 stores across eight markets and saw an increase not only in Kohl’s Rewards enrollments but also Kohl’s Card acquisitions and usage as well as an overall sales lift.

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The retailer could use the boost. Following more than a year of pressure from investors to produce a meaningful turnaround, Kohl’s has become a prime acquisition target, with the retailer confirming in March that it had received nearly 20 buyout bids. Among the companies reportedly vying for the department store chain are JCPenney owners Simon Property Group and Brookfield Asset Management, as well as The Vitamin Shoppe parent company Franchise Group.

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