"The activists' comments and track record reveal that they are focused on short-term payout at the expense of sustainable success," she said. "We reject the activists' short-termism and their attempt to disrupt our momentum at this critical time. We remain open and interested in new ideas that can help us increase value for our company and our shareholders." Kohl's shares were falling about 2% midday Friday. The stock is up about 50% over the past 12 months. Kohl's has a market cap of $8.64 billion, which is bigger than Nordstrom 's and Macy's.