Financial PerformanceNordstrom reported 2Q adj. EPS of $0.96 (above Street $0.71) with the beat driven by more favorable gross margin expansion of +155bps Y/Y to 36.6%.
Sales GrowthRack continues to drive sales with total sales growth of 3% led by Rack stores, showing a sales increase of 9%.
Take-Private ProposalThe company had received a going-private transaction proposal from the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V.; the proposal indicates plans for the family and Liverpool to acquire all shares of the company for $23/share in cash.