Nordstrom shares soar 20% after announcement it might go private (JWN)

Nordstrom, Inc. shares are soaring as much as 20% in pre-market trading on reports the brand is exploring going private.

The company has formed a committee to look into the matter, according to a news release.

Here's the full release:

ABOUT NORDSTROMNordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 354 stores in 40 states, including 122 full-line stores in the UnitedStates, Canada and Puerto Rico; 221 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The Company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its seven clubhouses. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.Certain statements in this news release contain or may suggest "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Such statements arebased upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectationsdepending upon factors including, but not limited to, risks related to disruption of management's attention from the Company's ongoing business operations due to the exploration of a possible "going private transaction" bythe Nordstrom family and the effect of the announcement of the exploration of such a transaction on the Company's relationships with its customers, suppliers, partners, operating results and business generally. Our SEC reports, including our Form 10-K for the fiscal year ended January 28, 2017, contain other information other factors that could affect our financial results and cause actual results to differ materially from any forward-lookinginformation we may provide. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.