Nordstrom Could Be Close to Kissing Public Markets Goodbye

The Nordstrom family is reportedly close to a deal to take the company private. Here's the hottest story Friday afternoon.

Author:: Brian Sozzi
Publish date:: Feb 23, 2018 3:29 PM EST

It may be bye-bye to public markets for luxury department store and Action Alerts Plus holding Nordstrom Inc. (JWN) - Get Report . Nordstrom shares spiked 6% on Friday on a Reuters report that the company's founding family is finalizing plans to take the chain private.

TheStreet's Jim Cramer and his Action Alerts Plus research team added Nordstrom to its charitable trust portfolio on Feb. 6 for a number of reasons. Taking advantage of the market correction, the team reasoned Nordstrom's earnings power was being undervalued amidst the stock market selloff earlier this month.

This possible Nordstrom deal has TheStreet newsroom abuzz with other retail musings. What could be the next big company to go private in the retail space? TheStreet's Executive Editor Brian Sozzi has an inkling it just might be Overstock.com Inc. (OSTK) - Get Report .