Nordstrom Inc (JWN)
20 Oct 2017
TORONTO/BENGALURU, Oct 16 Shares in Hudson's Bay Co, which is reviewing strategic options including privatization, fell as much as 5.5 percent on Monday, after rival Nordstrom Inc's failed attempt to go private spooked sentiment for other U.S. retailers, analysts said.
Nordstrom Inc said on Monday that a founding family group had suspended attempts to take the U.S. department store operator private because of difficulties in arranging debt financing for its bid ahead of the key holiday shopping season.
Oct 16 Nordstrom Inc said on Monday that a founding family group had suspended attempts to take the U.S. department store operator private because of difficulties in arranging debt financing for its bid ahead of the key holiday shopping season.
DALLAS (Reuters Breakingviews) - Retailers hoping to put themselves up for sale are in for a long winter. Take Nordstrom. With large insider stakes and growing revenue, the $6.7 billion department-store chain was a prime candidate for a buyout. Now it is shelving its sale until after the holidays. It may be hoping for a higher price. But the delay suggests even risk-tolerant buyers are cool on the sector.
Oct 16 Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season.
* In light of difficulty obtaining debt financing in current retail environment, suspended exploration of going private deal for rest of year
* Company plans to open six Nordstrom Rack stores in Canada next year Source text for Eikon: Further company coverage:
* Dow up 0.04 pct, S&P off 0.03 pct, Nasdaq down 0.05 pct (Updates to early afternoon)
* Dow flat, S&P off 0.03 pct, Nasdaq down 0.06 pct (Adds details, comment, updates prices)
* Futures lower: Dow 14 pts, S&P 3.75 pts, Nasdaq 12 pts (Adds details, comment, updates prices)