Nordstrom Stock News

The Nordstrom family group has offered $3.8 billion to take the department store chain private, bringing the store group back into the family's hands.

The buyout bid values Nordstrom at $3.76 billion.

Brothers Erik and Peter Nordstrom submitted an offer to take private the eponymous retail giant Nordstrom, the company confirmed Wednesday morning, potentially bringing the multibillion-dollar department store chain founded by their great-grandfather in 1901 back into family control.

SEATTLE , Sept. 4, 2024 /PRNewswire/ -- The special committee of the Board of Directors of Nordstrom, Inc. (NYSE: JWN) today confirmed receipt of a proposal from Erik and Pete Nordstrom, other members of the Nordstrom family, and El Puerto de Liverpool, S.A.B.

Nordstrom's founding family on Wednesday offered to buy the department store chain for $23.00 per share in cash.

It's a tale of two retail department stores on the opposite ends of the financial spectrum. Nordstrom Inc. NYSE: JWN stock is trading up 21% year-to-date (YTD), while Macy's Inc. (NYSE: M) stock is trading down 22.6% YTD.

Retail earnings season has been a mix of hits and misses over the past few weeks, with industry giants like Walmart and Target beating sales expectations with help from aggressive discounts while Macy's and others have posted tepid numbers and disappointing guidance. Embattled discount chain Dollar General saw its stock crater 30% on Friday after it lowered its sales outlook and indicated that ...

Nordstrom, Inc.'s Q2 2024 earnings report showed a surprising profitability boost, with EPS beating expectations and gross profit margin reaching its highest since Q1 2022. The company's growth is driven by its Nordstrom Rack segment, which saw an 8.8% YoY sales increase, but this may pressure overall margins. Despite positive earnings, macroeconomic headwinds and a significant YoY inventory bu...