MajorsMar 18, 2024
Claire’s to Launch in 4,400 Walgreens StoresMajorsMar 26, 2024
Nordstrom May Go Private, Says Report
The retailer previously turned down an $8.4 billion offer in 2018.
The Nordstrom Men’s Store in New York City. The Seattle-based retailer is looking to go private, according to sources quoted in a recent Reuters report.
New York—Nordstrom may soon go private as its founding family looks for a buyer, according to a Reuters report.
The Seattle-based department store chain attempted to go private in 2017, courting private equity firms, but turned down an $8.4 billion offer in 2018 due to the “low” price.
Nordstrom CEO Erik Nordstrom and other members of the Nordstrom family own about a 30 percent stake in the retailer.
Sources told Reuters this time around, the retailer reached out to Morgan Stanley and Centerview Partners, requesting the investment banks contact private equity firms about a potential deal.
Nordstrom and Morgan Stanley did not respond to a request for comment while Centerview Partners declined to comment.
Related stories will be right here …
The Seattle-based department store chain attempted to go private in 2017, courting private equity firms, but turned down an $8.4 billion offer in 2018 due to the “low” price.
Nordstrom CEO Erik Nordstrom and other members of the Nordstrom family own about a 30 percent stake in the retailer.
Sources told Reuters this time around, the retailer reached out to Morgan Stanley and Centerview Partners, requesting the investment banks contact private equity firms about a potential deal.
Nordstrom and Morgan Stanley did not respond to a request for comment while Centerview Partners declined to comment.
The news follows Nordstrom’s fourth-quarter earnings, released March 5.
While the retailer beat expectations, it gave a muted outlook for the coming fiscal year, with revenue expectations of a 2 percent decline to growth of 1 percent, noting this fiscal year will have one less week.
Fourth-quarter sales were up 2 percent year-over-year, but sales at its namesake chain fell 3 percent.
Notably, Nordstrom Rack, its off-price banner, put on the strongest holiday season performance, with sales up 15 percent in Q4, due in part to cost-conscious customers.
Nordstrom ranked No. 12 on National Jeweler’s 2023 “$100 Millon Supersellers” list, with an estimated $613 million in jewelry and watch sales, down from $630 million the previous year.
The retailer operated 359 stores as of February, with plans to open 22 new Nordstrom Rack locations this year.
Fellow retailer Macy’s has been in talks to go private as well, recently receiving a second, even higher buyout offer of $6.6 billion from real estate investment firm Arkhouse Management and asset management firm Brigade Capital Management, though the bids were unsolicited.
Macy’s also has had success with its non-namesake banners, with plans to open more locations for its luxury brands, Bloomingdale’s and Bluemercury, while it will close 150 Macy’s locations over the next three years.
Editors' Picks
Sponsored by
More on Majors
The Latest
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
