Upscale department store operator Nordstrom Inc is reaching out to possible buyers for its store-branded credit cards, Bloomberg reported on Friday, citing sources familiar with the matter. Nordstrom has approached Citigroup Inc, JPMorgan Chase & Co, Capital One Financial Corp and Toronto-Dominion Bank, among other companies to test interest in its credit cards, the report said. (link.reuters.com/vew59v)The company, which has yet to set a date to solicit initial offers, is informally approaching buyers for the portfolio, Bloomberg said, citing one of the sources.Nordstrom plans to reach out to other top issuers of credit cards and private-label cards, Bloomberg reported.Nordstrom said on May 15 it was seeking a financial partner for its credit card receivables.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C traded higher by 0.32% or $0.15/share to $47.29. In the past year, the shares have traded as low as $45.06 and as high as $55.28. On average, 24417200 shares of C exchange hands on a given day and today's volume is recorded at 9572844.
Capital One Financial Corporation is a diversified financial services holding company with banking and non-banking subsidiaries. Shares of COF traded higher by 0.7% or $0.54/share to $77.19. In the past year, the shares have traded as low as $59.67 and as high as $78.49. On average, 3054300 shares of COF exchange hands on a given day and today's volume is recorded at 1701982.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 0.04% or $-0.02/share to $54.53. In the past year, the shares have traded as low as $50.06 and as high as $61.48. On average, 18640700 shares of JPM exchange hands on a given day and today's volume is recorded at 10878697.
Nordstrom, Inc. is a fashion specialty retailer. As of March 18, 2013, the Company operates 242 United States stores located in 31 states, as well as an e-commerce business through nordstrom. Shares of JWN traded higher by 0.47% or $0.32/share to $67.85. In the past year, the shares have traded as low as $54.90 and as high as $70.71. On average, 1636000 shares of JWN exchange hands on a given day and today's volume is recorded at 2070058.
The Toronto-Dominion Bank is a Canada-based bank, offering a range of financial products and services through TD Canada Trust, TD Bank, TD commercial Bank, TD commercial Banking and TD Auto finance. Shares of TD traded higher by 0.55% or $0.27/share to $49.09. In the past year, the shares have traded as low as $38.22 and as high as $49.15. On average, 699900 shares of TD exchange hands on a given day and today's volume is recorded at 873099.
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