Department Store: Nordstrom Family

department store: In June, members of the Nordstrom family including copresidents Blake, Peter and Erik Nordstrom, said they were weighing the acquisition of 70 per cent of the department store's stock that they don't already own, according to Toronto Star. That could give Nordstrom more flexibility to navigate a rapidly changing retail environment. The Nordstrom family told a special committee at the upscale retailer that they may start up the search again after the end of the crucial holiday season. Department stores sales have been under financial pressure as more people shop online, at off-price retailers or spend less money overall on clothing, which makes up a big part of Nordstrom's business. Article Continued Below It is experimenting with new concepts to win back shoppers as well. The Seattle retailer has been among the best performers in the department store arena, though its discount stores, called Nordstrom Rack, have been faring better than its department stores. (www.immigrantscanada.com). As reported in the news.