Nordstrom (JWN) Declares $4.85 Special Dividend; Approves $1B Buyback

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Go back to Nordstrom (JWN) Declares $4.85 Special Dividend; Approves $1B Buyback

Nordstrom Announces Closing of its Credit Card Transaction

October 1, 2015 4:15 PM EDT

SEATTLE, Oct. 1, 2015 /PRNewswire/ -- Nordstrom, Inc. (NYSE: JWN) today announced the closing of its credit card transaction with TD Bank U.S.A., N.A. (TD), including the sale of its credit card portfolio and the initiation of the long-term agreement under which TD is the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards. This transaction supports Nordstrom's strategy to enhance the customer experience while allowing for improvement in capital efficiency.

As previously announced on May 26, 2015, Nordstrom will continue to perform all customer-facing account servicing functions,... More