Peter Nordstrom on public vs private
From Pete Nordstrom: From public to private, Nordstrom’s gains momentum · · The Retail Pilot - Leaders & Legends Podcast
“The problem is when you're a public company, your scoreboard is your stock price. And particularly as it's tied to compensation through any your senior management people, it's the stock price. And you know, we would have a good quarter, good few quarters, good year, our stock price would go down. And it's just it was a morale buster. It was just tough and we thought there was a way that we could create better focus if we didn't have to deal with all of that.”
On , Peter Nordstrom, President, Chief Brand Officer & Director at NORDSTROM INC, spoke about public vs private during Pete Nordstrom: From public to private, Nordstrom’s gains momentum on The Retail Pilot - Leaders & Legends Podcast.
About Peter Nordstrom
In a series of podcast appearances in April and May 2026, Pete Nordstrom discussed Nordstrom's transition to private ownership, completed in May 2025, and the company's strategic direction. He described the public company model as a "morale buster," noting that the company's stock price was low despite strong business performance, which he characterized as being "the best house in a bad neighborhood." Nordstrom stated that going private has changed governance and reduced time spent on compulsory public company requirements. He said the company vetted multiple options, including private equity and strategic partners, before selecting a partnership with Liverpool. Nordstrom addressed several operational topics. He said Nordstrom is opening 25 Rack stores in the current year and expressed interest in building the capability to open more. He compared the Rack's potential to TJ Maxx's 2,500 stores, suggesting Nordstrom could eventually have 300 to 500 Rack locations. On the Saks-Neiman Marcus merger, Nordstrom said it created an opportunity for Nordstrom to strengthen relationships with luxury brands. He described the company's failed Canada expansion as a "biggest black eye" and said that, given a "do-over," the company would not have entered Canada. On downtown Seattle, Nordstrom said the company does less business and makes less money there while paying more taxes, adding that the company wants to see returns on those taxes. He also said it is "quite likely" that in the foreseeable future there will not be a Nordstrom serving as CEO.