Nordstrom Stock News

I maintain a buy rating for Nordstrom (JWN) due to the favorable macro backdrop and positive margin outlook, despite the unlikely buyout acceptance. JWN's 2Q24 earnings showed 3.4% y/y growth, with adj EPS of $0.96 beating consensus, and a 160bps gross margin expansion to 36.6%. The buyout offer at $23 per share serves as a valuation floor.

Nordstrom just announced it looks favorably on a bid from Mexican retailer El Puerto de Liverpool to help take the company private. The merger proposal is now being evaluated by a special committee made up of independent and disinterested partners to determine if it is in the “best interests of Nordstrom and all shareholders.

24/7 Wall St. Insights The owners want to take retailer Nordstrom Inc.

Nordstrom has received a proposal from its CEO Erik Nordstrom, President and Chief Brand Officer Pete Nordstrom, other members of the Nordstrom family and Mexican omnichannel company El Puerto de Liverpoolto acquire all the outstanding shares of the company and take the company private.

Nordstrom‘s founding family has offered to take the department store chain private for $23 a share, teaming up with a Mexico-based retailer in its latest bid, a filing showed on Wednesday.

Nordstrom (JWN) Chief Executive Officer (CEO) Erik Nordstrom and other members of the company's founding family have made a bid to take the fashion retailer private for $23 per share, according to n Securities and Exchange Commission (SEC) filing.

Nordstrom, Inc. (NYSE:JWN) could be taken private by the family who founded the department store chain for $23 per share or a total valuation of $3.8 billion. The Nordstrom family, which owns approximately 33% of Nordstrom shares, and Mexican retailer El Puerto de Liverpool, which owns about 10%, have proposed to acquire the remaining 57% of shares.

“That the Nordstrom family have made an offer to buy the department store chain comes as no surprise. What is interesting is the $23 a share value which is pretty much the current price of the stock,” said Neil Saunders, managing director of GlobalData.