Nordstrom Family Reaches Deal to Take Retail Chain Private [Video]

What’s New

Nordstrom has reached a $6.25 billion buyout deal led by members of the Nordstrom family and Mexican retail giant El Puerto de Liverpool in an effort to take the retail chain private.

Why It Matters

The move marks a pivotal moment for the century-old department store chain as it grapples with fierce competition in an evolving retail sector.

The agreement comes amid a challenging period for traditional department stores, which face mounting pressure from discount chains like Walmart, fast-fashion players and e-commerce companies like Amazon.

Rivals such as Macy’s and Kohl’s have been forced to consider sweeping changes under pressure from investors, while Nordstrom’s sales have largely stagnated over the past decade.