Nordstrom terminates buyout talks with the Nordstrom family

The special committee of the board of directors of Nordstrom has ended discussions with members of the Nordstrom family – company Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, President of Stores James F. Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E. Gittinger, regarding the group’s acquisition of the outstanding shares of common stock of the company since it could not reach agreement on an acceptable price for the company.

The company said in a statement that the committee believes Nordstrom is well positioned to capitalize on future opportunities to gain market share through its customer strategy, centered on three strategic pillars: providing a differentiated product offering; delivering exceptional services and experiences; and leveraging the strength of its brand.

It added that the committee is also confident that the company’s ability to leverage its digital capabilities and its local market assets of people, product, and place will support growth across both its full-price and off-price businesses.

Picture:Facebook/Nordstrom

 

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