Nordstrom shares jumped over 10% on Tuesday after talks of the retailer considering going private surfaced.
The department store chain’s founding family is working with investment banking firms Morgan Stanley and Centerview Partners to gauge whether the firms are interested in a deal, Reuters reported.
Talks of a deal have not been confirmed. Nordstrom last considered going private in 2018.
The news comes shortly after the retailer reported a subdued sales outlook for 2024, in which it said its sales could continue to decline.