Due to the founding family's interest in a potential go-private deal, Nordstrom has assembled a special committee of independent directors to evaluate any proposals.

President Pete Nordstrom and CEO Erik Nordstrom have decided to take this action due to the current decline in sales experienced by department store chains nationwide. Consumers are spending less on non-essential items because of rising inflation and high borrowing costs.

The Seattle-based business stated that any ideas from third parties will also be considered by the committee. After finishing Thursday's trading session up 4.4% at $18.74, Nordstrom's shares were up 1.6% in extended trading. Based on LSEG data, the retailer's market value was approximately $3.06 billion.

Morningstar analyst David Swartz says that in order for the purchase to be approved, the offer must be significantly higher than the current stock price. In March, Reuters reported that the founding family was trying to make the company private, six years after a failed bid.

The family formed a group to investigate going private by buying all the company's shares, as announced in 2017.

However, the department store operator said in 2018 that the $8.4 billion deal was too low and rejected it. The talks with the family were stopped because they couldn't agree on a price and couldn't get debt financing.

As of March 2024, the founding family owned approximately thirty percent of the combined outstanding shares of the corporation. The CEO of Nordstrom, who owns 7.45% of the company, plans to borrow money or sell shares to fund upcoming business deals, as stated in a filing on Thursday.