Nordstrom has officially delisted from the New York Stock Exchange, departing Wall Street following the completion of its $6.25 billion all-cash acquisition by the Nordstrom family and Mexican retail giant El Puerto de Liverpool.
The retailer will now operate as a private company, with the founding family retaining a controlling stake.
Brothers Erik and Pete Nordstrom will once again lead the business together as co-chief executives, a structure that harkens back to the company’s earlier leadership model before it was dismantled five years ago.
The brothers previously shared top responsibilities with their late brother Blake, who passed away in 2019.
The move to take Nordstrom private comes at a time of economic uncertainty, with US tariffs raising concerns over rising costs and consumer confidence.
Nonetheless, the acquisition succeeded where a previous 2016 attempt had failed due to financing challenges.
Privatising Nordstrom gives the company breathing room away from quarterly investor scrutiny.
Analysts see the shift as an opportunity to streamline operations and bolster competitiveness in the luxury department store space.
Nordstrom has recorded consistently positive comparable sales in recent quarters, a rare feat among traditional department stores, and has shown stronger year-on-year traffic growth than competitors like Saks Fifth Avenue and Neiman Marcus, according to data from Placer.ai and TD Cowen.
Analyst Oliver Chen noted that Nordstrom’s relatively low reliance on private label goods could also help it navigate the tariff environment more effectively, as those labels tend to have greater exposure to Chinese manufacturing.
Marking the transition, Erik Nordstrom said: “The completion of this transaction is an important milestone in our nearly 125-year history.
“As we embark on this new chapter, we remain focused on what matters most: providing outstanding service, offering the best merchandise, and ultimately, helping our customers feel good and look their best.”
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