Shoppers exit a Nordstrom at Westfield Topanga Mall in Canoga Park, California, on August 14, 2023.
Christina House | Los Angeles Times | Getty Images
Nordstrom Shares closed up 9% on Tuesday following a report that the department store chain is trying to go private.
The retailer's founding family works with Morgan Stanley and investment bank Centerview Partners to determine whether private equity firms are interested in the deal, Reuters reported, citing people familiar with the matter. Morgan Stanley declined to comment.
According to Reuters, an agreement may not be reached. Previous efforts to acquire Nordstrom in 2018 failed.
Nordstrom has struggled to increase sales in a competitive retail landscape as inflation-stricken consumers watch their spending on clothing and other discretionary goods. Earlier this month, the company gave a bleak sales forecast for 2024.
Nordstrom said it expects full-year revenue to range from a 2% decline to a 1% increase starting in 2023.
Before Tuesday's move, the company's shares had fallen about 7% this year.
Nordstrom did not immediately respond to CNBC's request for comment.
