Nordstrom, Inc. (JWN)
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Nordstrom Says It Will Evaluate if Family Should Take Company Private
Nordstrom board of directors is forming a special committee to explore whether the company should be taken private by members of the Nordstrom family, the retailer said. Earlier this year, reports emerged that members of the Nordstrom family were considering taking the company private. The committee was formed in response to the Nordstroms’ proposal, the company said Thursday.
- Reuters
Nordstrom family eyes taking the store chain private
(Reuters) -Nordstrom said the founding family behind the department store chain had shown an interest in pursuing a potential go-private deal, prompting the company's board to form a special committee of independent directors to evaluate any proposal. The move by CEO Erik Nordstrom and President Pete Nordstrom comes at a time when department store chains across the U.S. are grappling with weak sales as sticky inflation and elevated borrowing costs have led customers to rethink their discretionary spending. The Seattle-based retailer said the committee would evaluate any proposals from other parties as well.
