The Nordstrom family is taking back control of its store in a $6.25 billion deal
2 weeks, 3 days ago

The Nordstrom family is taking back control of its store in a $6.25 billion deal

CNN  

New York CNN — 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 — as well as Mexican department store chain El Puerto de Liverpool will acquire the remaining shares they don’t own, giving the family a majority ownership stake in the 123-year-old company. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.” Nordstrom’s founding family tried taking the retailer private in 2018 at $50 per share, but the board said that was too low of a price. Neil Saunders, managing director of GlobalData, praised the change in a note writing that the family and their backers can “make necessary investments and changes away from the short term scrutiny of public markets.” “The family have the talent and ability to enact change as does El Puerto de Liverpool.

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Value seekers drove 2024’s retail trends and dead ends
1 week, 2 days ago

Value seekers drove 2024’s retail trends and dead ends

LA Times  

Among retailers and restaurants, there were winners and losers as consumers wrestled with high housing and food prices in 2024. Here are some of the trends — and dead ends — that the Associated Press tracked in 2024: WINNERS: WALMART The nation’s largest retailer typically shines during tough times as shoppers turn to the discounter for groceries, which account for …

Value-seekers drove 2024’s retail trends and dead ends
1 week, 2 days ago

Value-seekers drove 2024’s retail trends and dead ends

Associated Press  

Value was in vogue in 2024. But Amazon could face headwinds in the coming year with threatened tariffs on products from China and labor unrest in the U.S. FAST CASUAL CHAINS It was a good year for restaurant chains like Shake Shack that are a step up from fast food but still offer good value. The company’s sales slumped as …

Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal
2 weeks, 2 days ago

Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal

Associated Press  

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 by discount chains and other competition. The offer announced Monday tops the previous $23-per-share bid that the Nordstrom family and Mexican retail group, El Puerto de Liverpool, made in …

The Nordstrom family teams up with a Mexican retail group to bid for its namesake retailer
4 months ago

The Nordstrom family teams up with a Mexican retail group to bid for its namesake retailer

Associated Press  

NEW YORK — Members of the Nordstrom family with the help of a Mexican retail group are offering to take the century-old department store private for $3.76 billion, months after first expressing interest in a buyout. The Mexican retail group, El Puerto de Liverpool, operates more than 300 stores in Mexico and is that nation’s third-largest credit card issuer with …

Bruce Nordstrom, who helped grow family-led department store chain, dies at 90
7 months, 2 weeks ago

Bruce Nordstrom, who helped grow family-led department store chain, dies at 90

Associated Press  

SEATTLE — Bruce Nordstrom, a retail executive who helped expand his family’s Pacific Northwest department store chain into an upscale national brand, has died. “Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend,” said a statement from his sons, Nordstrom CEO Erik Nordstrom and Pete Nordstrom, the company’s president. The …

Nordstrom’s results reflect cautious consumer spending, echoing department store sector blues
1 year, 4 months ago

Nordstrom’s results reflect cautious consumer spending, echoing department store sector blues

Associated Press  

NEW YORK — Nordstrom on Thursday reported that its sales and profits fell in its fiscal second quarter, joining itsdepartment store peers coping with shoppers’ cautious spending. Nordstrom’s sales were affected by the timing of the company’s anniversary sale, with one week falling into the third quarter this year compared to one day in 2022. Moreover, last year’s results included …

Nordstrom's Anniversary Sale 2020: Everything You Need To Know
4 years, 5 months ago

Nordstrom's Anniversary Sale 2020: Everything You Need To Know

Huff Post  

HuffPost may receive a share from purchases made via links on this page. HuffPost Plaid blazers, Gucci sunglasses and fuzzy slippers — we found what's worth getting during Nordstrom's Anniversary Sale. If you’re always adding things to your Nordstrom cart, here’s your chance to actually head to the checkout: Nordstrom’s annual Anniversary Sale is available now to shop through Aug. …

Nordstrom Rack Is Having An Early Spring Sale For 20% Off Everything
4 years, 9 months ago

Nordstrom Rack Is Having An Early Spring Sale For 20% Off Everything

Huff Post  

HuffPost may receive a share from purchases made via links on this page. HuffPost Nordstrom Rack Is Having An Early Spring 20% Off Sale If you’ve started spring cleaning, chances are you’ve done some much needed closet purging and organizing. If you’re looking refresh what’s left of your wardrobe with some spring essentials, look no further than this early spring …

Nordstrom earnings: Brick and mortar stores are hurting many retailers, but Nordstrom is pushing them as key to the company’s future
5 years, 1 month ago

Nordstrom earnings: Brick and mortar stores are hurting many retailers, but Nordstrom is pushing them as key to the company’s future

CNN  

New York CNN Business — The growth of e-commerce has gutted many traditional retailers and led to the shuttering of brick-and-mortar stores. “Our market strategy is transforming our business model in how we’re serving customers,” Co-President Erik Nordstrom said in a release Thursday. “We achieved an important milestone with the opening of our New York City flagship store, significantly increasing …

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