Founded in 1901, Nordstrom Inc. went private in 1978. Today, the company operates 354 stores in the US and Canada, including five Nordstrom Rack stores that have opened since the beginning of 2017. Nordstrom Rack locations now comprise nearly two-thirds of the company's store count.

SEATTLE—Shares of Nordstrom Inc. were up sharply Thursday morning following the retailer's announcement that members of the Nordstrom family were considering taking the company private. The Nordstrom family group would acquire all outstanding shares of the company's stock and is not interested in selling the retailer to third parties, according to regulatory filings. Nordstrom Inc. has a market capitalization of about $6.8 billion.

The group, which hasn't made any proposals as yet, is comprised of Blake W. Nordstrom, Peter E. Nordstrom and Erik B. Nordstrom, the company's co-presidents; president of stores James F. Nordstrom; chairman emeritus Bruce A. Nordstrom; and Anne E. Gittinger; and collectively owns 31.2% of the company's stock. The Nordstrom Inc. board of directors has formed a special committee to act on the company's behalf, retaining Centerview Partners LLC to serve as financial advisor and Sidley Austin LLP to serve as legal counsel.

Thursday's announcement comes amid continued challenges for brick-and-mortar retailers. Macy's sounded a warning earlier this week about its gross margins, Michael Kors announced last week that it plans to shutter between 100 and 125 stores and published reports are saying that Sears has slated an additional 72 locations to go dark. Nordstrom has reported nine consecutive years of annual sales growth, but in its most recent quarterly earnings report, same-store sales declined 0.8% on a year-over-year basis, while online sales posted double-digit gains and now comprise 24% of the total.

Same-store sales at Nordstrom have declined in four of the past six quarters. The retailer's share price has slipped by about one-third since this past December, although it was up by as much as 17% Thursday morning.

Founded in 1901, Nordstrom Inc. went private in 1978. Today, the company operates 354 stores in the US and Canada, including five Nordstrom Rack stores that have opened since the beginning of 2017. Nordstrom Rack locations now comprise nearly two-thirds of the company's store count.