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Nordstrom Considers Spinning Off Rack

  • Bloomberg, Wednesday, December 22, 2021 6:04 PM

Nordstrom may shift its discount Nordstrom Rack unit into a stand-alone business, people with knowledge of the situation told Bloomberg. The company is not satisfied with the recovery of Nordstrom Rack, which didn’t offer enough premium brands and had more lower-priced products than its customers wanted, Nordstrom CEO Erik Nordstrom said during a third-quarter earnings call last month. Other retailers, including Macy’s and Saks Fifth Avenue, are also in the midst of rethinking their businesses as online spending grows amid the pandemic, per Bloomberg.

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