Kohl's Corp. (NYSE:KSS) top executives are open to the strategic review and the board is expected to discuss the company's multiple options further this week, a person familiar with the situation said. Concerned that its depressed share price could make it a target for activist investors, directors are considering whether to hire an investment bank to advise it on alternatives that could include a sale to a private-equity firm, the person familiar with the situation said.

Kohl's declined to comment.