One of the nation’s most successful department store retailers may remove itself from the scrutiny and pressure of Wall Street.

Nordstrom announced that the Nordstrom family – company co-presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, president of stores James F. Nordstrom, chairman emeritus Bruce A. Nordstrom, and Anne E. Gittinger – have formed an exploratory group to research the possibility of taking the company private. The group has not yet made a formal proposal regarding any such transaction.

The potential deal would involve the acquisition by the group of 100% of the outstanding shares of common stock of Nordstrom. The group owns 51.8 million shares, representing approximately 31.2% of the company’s outstanding stock, it said in a regulatory filing Thursday. Nordstrom’s market capitalization is about $6.8 billion.

The news comes as department store companies…