Ep 97. Nordstrom Goes Private - Part 1: Family First

For over 50 years our company, Nordstrom Inc., had been a publicly traded entity. Owned by shareholders, traded on Wall Street and largely evaluated by its stock price. That all changed on May 20, 2025, when we—the family, with more than a little help from our friends—bought it back. What does that actually mean? How does that all work? What are the potential risks and long-term implications for the future of the business? These are the questions that we're here to answer today in part one of our two-part series all about how Nordstrom went private. From the outside it may seem like this sort of thing happens relatively quickly. An offer is made, the stock gets bought, the company disappears from the market and that's it! But we can tell you now, having gone through it, the whole process is really a lot more complex than we had initially imagined. All in all, it took about 10 years from when we first started entertaining the thought to when we finally landed a deal. So to set the stage and discuss some of the circumstances that placed us on this path, we've invited back to the Nordy Pod Co-CEO Erik Nordstrom and Chief Merchandising Officer Jamie Nordstrom. We'll also hear from someone who was an absolutely instrumental advisor for us; investment banker, Ken Moelis of Moelis & Company. Together we'll walk you through the entire process from start to finish. We'll discuss some of the main motivations for and future benefits of achieving our goal, as well as some of the most perilous, high-stakes risks involved in the journey of Nordstrom going private. Thanks for tuning in to episode 97. We hope you enjoy it! Did you know that YOU can be on The Nordy Pod? This show isn't just a one-way conversation. We want to hear about what Nordstrom looks like through your eyes. Share your Nordstrom experience, good or bad, by giving us a call and leaving a voicemail at 206.594.0526, or send an email to [e-mail] to be a part of the conversation! And be sure to follow us on Instagram @thenordypod to stay up to date on new episodes, announcements and more.