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Nordstrom (JWN) is returning to its private roots after years of earnings struggles and investor indifference. The founding Nordstrom family, who owned a roughly 33% stake, teamed up with retail ...
Nordstrom, the upscale department store chain, is going private in a $6.25 billion deal with its founding family. The retailer announced Monday that the family — Erik, Pete and Jamie Nordstrom ...
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed ...
Nordstrom is a Hall of Fame member of Fortune magazine's "100 Best Companies to Work For". [98] Nordstrom was No. 36 on the same list in 2008, No. 24 in 2007, No. 46 in 2006 and No. 88 in 2005. [99] For the 20th year in a row, they made the list coming in at No. 94 in 2017. [100] [101] In 2010, it ranked number 53, and dropped to 61 in 2012. [102]
Nordstrom was unable to go private in 2017 due to the retail apocalypse. [226] On May 4, 2020, Nordstrom announced that it would shutter sixteen locations. [227] On March 3, 2023, Nordstrom announced that it would close all of its Canadian full-line and Nordstrom Rack stores by June 13, 2023. [228]
John W. Nordstrom (born Johan Wilhelm Nordström, Swedish pronunciation: [ˈjuːhɑn ˈvɪlːhɛlm ˈnuːr(d)strœm]; February 15, 1871 – October 11, 1963) was a Swedish American businessman who was the co-founder of the Nordstrom department store chain.
Nordstrom, which has more than 350 locations, will go from public to private as a result of the deal and the Nordstrom Family will have a majority ownership stake, according to the company.
Being private would allow Nordstrom to make long-term decisions without having to answer to the pressure of the public market, but would make it harder to access capital. "The business is at a ...