What: Nordstrom, the US department store chain, is making a second attempt to delist from the stock exchange due to ongoing sales declines and challenging market conditions.

Why it is important: This move highlights the broader struggles within the US retail sector, particularly for department stores, which are grappling with shifting consumer behaviors, the rise of online shopping, and economic pressures. Privatization could offer Nordstrom more agility to make necessary strategic adjustments without the immediate pressures from public markets.

Nordstrom's decision to pursue delisting, led by CEO Erik Nordstrom and President Pete Nordstrom, reflects a strategic effort to regain control and flexibility in steering the company during turbulent times for the retail industry. The Nordstrom family, controlling a significant portion of the company's shares, had previously attempted privatization in 2017 but was unsuccessful. With the aid of financial advisers from Morgan Stanley and Centerview Partners, they aim to better navigate an increasingly competitive landscape that has seen a steady decline in market share for department stores and the shuttering of established names like Barneys. The attempt to move away from public scrutiny is seen as a crucial step towards implementing more effective transformations and tackling the challenges posed by the evolving retail environment.

Nordstrom's delisting highlights challenges in the US retail market