Nordstrom Founding Family Takes Retailer Private in $6 Billion Deal

Core Points - The Nordstrom family, along with Mexican retailer Puerto de Liverpool, announced a deal to acquire all of Nordstrom's outstanding common stock, valuing the transaction at approximately $6.25 billion [1][6] - The deal marks a significant shift for Nordstrom, which has been a key player in the retail industry for nearly 125 years, and the family expressed excitement about the new chapter for the business [2][4] - The Nordstrom board unanimously approved the transaction, with Erik and Pete Nordstrom recusing themselves from the decision [6] Company Performance - In the third quarter, Nordstrom reported growth in net and comparable sales, margin expansion, and an increase in the customer base, indicating successful efforts to enhance the customer experience [5] - Both Nordstrom and Nordstrom Rack achieved 4% comparable sales growth, with digital sales growing over 6%, reflecting positive momentum in the online business [9] - The company has seen positive total net sales growth for four consecutive quarters, driven by customer response to new brand selections [9] Historical Context - The Nordstrom family has previously expressed interest in taking the company private, with discussions dating back to 2017 when a special committee was formed to consider buyout deals [7][4] - In March of the current year, reports indicated renewed interest from the Nordstrom family in pursuing a go-private deal [4]