Connect with us


Nordstrom to Evaluate Founding Family’s Plan to Go Private

Move advocated by retailer’s CEO, President




Its Nordstrom Rack discount chain has been the retailer’s main source of growth in recent years. Photo: JHVEPhoto/

Verifying reports that first began circulating three weeks ago, luxury department store chain Nordstrom (Seattle) says it is exploring taking the company private at the behest of founding family members Erik and Pete Nordstrom, its CEO and President, respectively.

As part of the Nordstrom board’s most recent evaluation of its operations, it authorized the exploration of possible avenues to enhance shareholder value. During this process, the two Nordstroms “notified the Board of their interest in pursuing a potential transaction pursuant to which Nordstrom would become a private company,” the retailer said in a news release.

In response, the board formed a special committee of independent and directors to evaluate any proposal from the Nordstroms, as well as any proposals from other parties.

The special committee has retained Morgan Stanley & Co. LLC and Centerview Partners LLC as financial advisors and Sidley Austin LLP and Perkins Coie LLP as legal counsel.

“There can be no assurance that the company will pursue any particular transaction or other strategic outcome, or that a proposed transaction will be approved or consummated,” the company statement noted. The company also said it does not intend to disclose further developments regarding this matter “unless and until further disclosure is determined to be appropriate or necessary.”

Nordstrom Inc. stock currently trades on the New York Stock Exchange. It operates more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations.




MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

Promoted Headlines





Most Popular