The Nordstrom family made an offer to take Nordstrom Inc. private, but has remained tight-lipped on the process so far.
Inc.’s financial results are improving. Executives have done a good job managing expectations. The Fed has cut rates twice this year, and the regulatory environment has loosened up. family and Mexican retailer Liverpool, have offered to acquire all of the outstanding shares of the company the group does not already own for $23 a share in cash, a total of $3.8 billion. The company is currently trading at around $23.19 a share. The Nordstrom family owns about one third of the stock.
As Nordstrom executives work to take the company private — a process seen taking many months — they’ve been successful executing on strategic priorities, including an aggressive expansion of the Rack off-price chain, digital growth and comp gains at the Nordstrom business. But as one retail source said, “Nordstrom needs to do more work outside of the public markets to address the underlying performance of their core business.
Nordstrom did report a third-quarter drop in net earnings, but there were increases in operating profits and sales revenues that surpassed Wall Street expectations. But investors remain concerned about expenses and by the commentary on sluggish early fourth-quarter selling. could reach a higher valuation, and preempt an unwanted bid for the company.
Two big questions surround the plan to go private: Is there a deadline for putting together a deal, and how would Nordstrom’s strategies change once turning private?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Nordstrom’s Holiday Displays for 2024View photos of the Nordstroms holiday displays for 2024 in New York.
Read more »
A Larger-than-life Holiday Adventure Is Taking Over Nordstrom’s NYC StoreThe Nordstrom NYC activation stars characters voiced by John Waters and Fran Drescher.
Read more »
A Larger-than-life Holiday Adventure Is Taking Over Nordstrom’s NYC StoreThe Nordstrom NYC activation stars characters voiced by John Waters and Fran Drescher.
Read more »
Trump’s national security adviser pick is weighing proposals to end the Russia-Ukraine warPresident-elect Donald Trump’s soon-to-be national security adviser Mike Waltz has been weighing several proposals in recent days for ending the war between Russia and in Ukraine, including one from Gen.
Read more »
Canada weighing how to retaliate if Trump imposes 25% tariffsA full-blown trade war between the U.S. and Canada could lead to a recession in both countries, economist says.
Read more »
Trump team weighing purchase of Texas land plot for immigration detention centerPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »