Thursday, June 8, 2017

Nordstrom family explores taking retailer private

FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS/Rick Wilking/File PhotoDepartment store operator Nordstrom Inc said on Thursday that some members of the controlling Nordstrom family have formed a group to consider taking the company private as it struggles with an industry-wide slowdown in sales.

Nordstrom, like other department stores, has reported weak sales in recent quarters as the industry struggles with a slump in demand for apparel and a shift to online shopping.

"Because of the changing dynamics in the retail environment, the group is evaluating whether the long term interests of the issuer (Nordstrom) are better served as a privately held company," the members of the Nordstrom family said in a filing.. . . more

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