Nordstrom May Go Private, Says Report
The retailer previously turned down an $8.4 billion offer in 2018.

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.
The Latest

Smith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.

Associate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.

Respondents were concerned about job availability and rising prices.

Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.


Two men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.

The “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

The brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Move over neck mess, the ear story is the way to make a layering statement today.

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.

De Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.
They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

He previously served as co-chair of the nonprofit’s beneficiary committee.

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.