Nordstrom Sees Sales Rebound as Investors Await Buyout News
Luxury retail has had to endure very difficult conditions, and for high-end department store retailer Nordstrom (NYSE: JWN), the pressure that the company has seen on its results has been frustrating. Indeed, for Nordstrom family members, who own a substantial minority stake in the retailer, the possibility of a leveraged buyout looked attractive enough for them to announce that they were looking at a potential bid to take the company private.
Coming into Thursday's second-quarter financial report, Nordstrom investors were prepared for bottom-line declines and only tepid gains in revenue. Nordstrom's results were largely in line with the company's expectations, but some signs of improvement were enough to encourage investors about the retailer's future. Let's take a closer look at Nordstrom and what its latest numbers reveal about what's coming down the road.
Image source: Nordstrom.
Source: Fool.com