Funding Another Attempt to Take Nordstrom Private Would Be Tricky

In the fourth quarter, the company was lifted by improved top-line growth at the Rack off-price division. [...]Erik Nordstrom, chief executive officer, told analysts on a conference call this month that traffic did improve sequentially at the Nordstrom banner during 2023, while the Manhattan flagshi...

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Bibliographic Details
Published inWWD p. 2
Main Author Clark, Evan
Format Trade Publication Article
LanguageEnglish
Published Los Angeles Penske Business Corporation 20.03.2024
Subjects
Department stores
Going private
Private equity
Retail stores
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Summary:In the fourth quarter, the company was lifted by improved top-line growth at the Rack off-price division. [...]Erik Nordstrom, chief executive officer, told analysts on a conference call this month that traffic did improve sequentially at the Nordstrom banner during 2023, while the Manhattan flagship has been showing "real strong growth." The Nordstroms own about 30 percent of the company's stock, so they would still have to come up with more than $2 billion at the current price.
ISSN:0149-5380