Nordstrom Reportedly Reaching Out To Potential Buyers For Its Credit Cards Sale

(RTTNews) - Nordstrom Inc. (JWN) is approaching potential buyers for its store-branded credit cards, according to a Bloomberg report Friday.

The retailer has reached out to Capital One Financial Corp. (COF), Toronto-Dominion Bank(TD, TD.TO), Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM), Bloomberg said, citing sources familiar with the matter.

Nordstorm, which has yet to set a date to solicit initial offers, is informally approaching buyers of its $2 billion credit card receivables portfolio, according to one of the sources.

The company plans to reach out to other top issuers of credit cards and private-label cards.

The company recently said it was working with Goldman Sachs Group Inc. (GS) and Guggenheim Partners LLC to find a financial partners for its credit cards portfolio.