Nordstrom's board forms special committee to evaluate going private amid US department store sales decline.
Nordstrom's board has formed a special committee of independent directors to evaluate the possibility of the company going private, following interest from the founding family, including CEO Erik Nordstrom. This move comes as department stores across the US face weak sales due to inflation and borrowing costs. The Seattle-based retailer aims to evaluate any proposals from the founding family and other parties.
April 18, 2024
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