Almost a week following Nordstrom’s announcement that family members may take the company private, the per-share stock price for Nordstrom Inc. (JWM) remains elevated.
Financial and legal counsel has already been retained by the family to help it determine whether privatizing the company would help fuel growth, according to Retail Dive.
The Nordstrom family could be considering this move in order to further focus and grow its ecommerce model without investor input, says Business Insider.
Although the retailer saw same-store sales drop in four of the last six quarters, is is benefiting from early-on but on-trend retail decisions such as opening off-price Nordstrom Rack and embracing the e-commerce. Nordstrom Rack stores are about two-thirds of all Nordstrom’s stores (354 total) operating in the U.S. and Canada today. A recent earnings report revealed that 24% of Nordstrom’s sales come from online.
All together, the Nordstrom family group owns 31.2% of stock. As of June 13, Nordstrom Inc.’s market cap is about $7.6 billion.