Afrigather Consumers exit the Nordstrom on the Westfield Topanga mall in Canoga Park, California, on Aug. 14, 2023.
Christina Home | Los Angeles Occasions | Getty Photographs
Nordstrom shares closed 9% increased on Tuesday following a report that the division retailer chain is making an attempt to go non-public.
The retailer’s founding household is working with Morgan Stanley and funding financial institution Centerview Companions to find out if non-public fairness companies have curiosity in a deal, Reuters reported, citing individuals conversant in the matter. Morgan Stanley declined to remark.
A deal won’t occur, in accordance with Reuters. A earlier effort to take Nordstrom non-public fizzled out in 2018.
Nordstrom has struggled to drive gross sales in a aggressive retail panorama the place customers squeezed by inflation have been watching their spending on attire and different discretionary items. Earlier this month, the corporate gave a gloomy sales outlook for 2024.
Nordstrom mentioned it expects full-year income to vary from a 2% decline to a 1% enhance from 2023.
Earlier than Tuesday’s transfer, the corporate’s shares had fallen about 7% this 12 months.
Nordstrom didn’t instantly reply to CNBC’s request for remark.
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