Shoppers leave the Nordstrom at the Westfield Topanga shopping center in Canoga Park, California, onAug 14, 2023.
Christina House|Los Angeles Times|Getty Images
Nordstrom shares closed 9% greater on Tuesday following a report that the outlet store chain is trying to go personal.
The seller’s starting household is dealing with Morgan Stanley and financial investment bank Centerview Partners to identify if personal equity companies have interest in an offer, Reuters reported, mentioning individuals knowledgeable about the matter. Morgan Stanley decreased to comment.
An offer may not take place, according toReuters A previous effort to take Nordstrom personal blew over in 2018.
Nordstrom has actually had a hard time to drive sales in a competitive retail landscape where customers squeezed by inflation have actually been seeing their costs on garments and other discretionary products. Earlier this month, the business provided a dismal sales outlook for 2024.
Nordstrom stated it anticipates full-year income to variety from a 2% decrease to a 1% boost from 2023.
Before Tuesday’s relocation, the business’s shares had actually fallen about 7% this year.
Nordstrom did not right away react to CNBC’s ask for remark.
