Wall Street Breakfast Nordstrom closes books on 53 years as public company
Dec 23, 2024
Nordstrom's transition from a public company wraps up with a $6.25 billion buyout offer after 53 years in the market. The Container Store faces tough times, filing for Chapter 11. Meanwhile, the U.K. is considering facial recognition tech to regulate social media access. On a market note, materials and software stocks appear primed for strong performance in the first half of the year, while consumer confidence takes a hit. Lastly, innovative approaches are discussed for navigating age verification in social media.
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Nordstrom Goes Private
- Nordstrom accepted a $6.25 billion buyout, ending its 53-year run as a public company.
- The Nordstrom family will hold majority ownership after the transaction.
Container Store Bankruptcy
- The Container Store filed for Chapter 11 bankruptcy after 46 years.
- They plan a recapitalization to improve finances and pursue growth.
Durable Goods Orders Decline
- November durable goods orders fell more than predicted, declining by 1.1%.
- A slump in aircraft orders and a decline in defense orders contributed to the drop.