Nordstrom planning shift from public to private company
According to Reuters, Nordstrom Inc’s founding family group is finalising plans to submit an offer to take the U.S. department store operator private. Nordstrom is about to receive the offer as it prepares to report fourth-quarter earnings on March 1 and update investors on its financial performance during the key holiday season. Nordstrom’s stock has risen close to 30 percent since Thanksgiving, on investors’ expectations of solid profits. Who said that department stores are doomed to fail?