Nordstrom shares dipped on Monday after the department store chain said in a filing with the Securities and Exchange Commission that the Nordstrom family won't increase its stake in the company.
The company also says its board has been in talks with Nordstrom's co-presidents about succession planning.
Shares were falling more than 2% in after-hours trading, after initially losing more than 4%. The stock had closed Monday up 2.2%. Nordstrom shares have fallen more than 18% this year., the company said co-presidents Pete and Erik Nordstrom presented the board with a proposal that would have boosted their stake in the company from about 31% to a little over 50%.
Nordstrom also said Monday that its board has had talks with co-presidents Pete and Erik Nordstrom "around succession planning and the continued evolution of their and others' management roles and responsibilities."
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