is usually the mall dead?

the item sounds like Nordstrom has had enough of Wall Street’s retail gloom-as well as also-doom.

Nordstrom (JWN) stock skyrocketed 17% on Thursday after the struggling department store said the item’s exploring a deal to go private.

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Members of the Nordstrom family, including co-presidents Blake Nordstrom, Peter Nordstrom as well as also Erik Nordstrom, are considering a bid to acquire 100% of the company. The group includes Bruce Nordstrom, grandson of the store’s founder, who owns 15% of the retailer’s outstanding stock.

A deal to go private could allow Nordstrom to reshape its business for the future of retail away by the scrutiny of Wall Street analysts as well as also media.

Nordstrom stressed that will no formal proposal has been made as well as also there’s no guarantee a deal will be reached.

Retail: Malls are doomed: 25% will be gone in 5 years

The go-private talk comes at a dark time for brick-as well as also-mortar retailers. The rise of e-commerce as well as also shifting consumer behavior has sent once-iconic retailers like Sears (SHLD), J.C. Penney (JCP) as well as also Macy’s into disarray. Store closures as well as also job cuts have also mounted.

The biggest threat has obviously come by the online juggernaut Amazon (AMZN, Tech30), which like Nordstrom is usually based in Seattle.

Earlier that will week, Macy’s (M) set off another retail panic when the department store warned its gross margins may be weaker than feared. The news sent Nordstrom shares sinking another 4%. as well as also last week, Michael Kors (KORS) announced plans to close 100 to 125 stores.

Nordstrom has not been immune to the retail fears. One-third of Nordstrom’s market value evaporated between early December as well as also Wednesday’s closing cost.

However, Nordstrom has fared better than some of its peers. The department store’s annual sales have increased each of the past nine years, though profits tumbled 41% last year.

If the item does go private, Nordstrom could follow inside footsteps of J. Crew, which went private in a $3 billion deal with private-equity firms in 2011. However, J. Crew continues to face financial pressure as well as also CEO Mickey Drexler will step down in July.

sy88pgw (brand new York) First published June 8, 2017: 9:56 AM ET


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