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The Nordstrom family will explore possible avenues for taking the high-end department store chain private, the company announced in a press release on Thursday.
The company has not filed any official proposal for going private, and could still decide to remain a public company, but it has retained financial and legal counsel to review its options, Retail Dive reports.
Going private could help the company reform its business around its digital and off-price offerings without having to answer to investors each quarter. Nordstrom has so far avoided mass store closings, unlike Macy’s,…