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December 24, 2024

Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25B deal

  • The move would allow the company more leeway in reviving a department store chain that has been attempting to reinvigorate sales for years.
    • By MATT OTT
    AP Business Writer

    Photo by Andrew Giammarco, via Nordstrom [enlarge]
    Nordstrom was founded in Seattle as a shoe store in 1901 by Swedish immigrant John W. Nordstrom. The company now operates 381 Nordstrom and Nordstrom Rack stores in the U.S.

    Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition.


     
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