Headlines

Liverpool Acquires 9.9 Percent Stake in Nordstrom

The Mexico City-based department store purchased $293.8 million worth of Nordstrom stock

Published

3 years ago

September 19, 2022

VMSD Staff

Liverpool Mexico, Mexico City “Sweet Christmas” / Alejandro Ruiz Gonzalez, Creative Manager ?: Cesar Rohe, Mexico — Liverpool's 2021 holiday windows. Photography: Cesar Rohe, Mexico

Liverpool's 2021 holiday windows. Photography: Cesar Rohe, Mexico

Mexico City-based department store Liverpool has acquired a 9.9 percent share of Nordstrom (Seattle). According to Reuters, Liverpool, the largest retailing chain in Mexico, reported purchasing $293.8 million worth of stock in the Seattle-based retailer.

“This operation represents an attractive opportunity to diversify assets geographically,” Liverpool said in a statement.

In its filing with the U.S. Securities and Exchange Commission, Liverpool says it used surplus cash to make the purchase of passive shares. The company has seen the value of its shares rise 10 percent this year and reported double-digit revenue growth in the second quarter for 2022.

Despite a 12 percent sales increase for the second quarter, Nordstrom’s share price has fallen almost 19 percent since the start of the year. During its earnings call in August, the luxury department store cut its annual forecast due to inflationary pressures and inventory surpluses.

Related Topics:department stores liverpool Nordstrom

VMSD Staff

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