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Nordstrom Goes Private in $6.25 Billion
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Subscribe24 DEC 2024 / BUSINESS
The Nordstrom family and Mexican retail giant El Puerto de Liverpool have partnered to acquire the Nordstrom company through a $6.25 billion deal, aiming to transition the struggling retail icon into private ownership by 2025. This move could offer the well-known retailer a chance for long-term growth and rejuvenation, amidst decreased revenues and the rising popularity of budget-friendly alternatives that have significantly impacted the department store industry.
When you’re a 122-year-old retailer facing a 70% stock drop since 2015, what’s the next move? If you’re Nordstrom, it’s going private. The Nordstrom family, in partnership with Mexican retail powerhouse El Puerto de Liverpool, has struck a $6.25 billion d...
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