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July 12, 2021, 7:52 a.m. EDT

Nordstrom takes stake in Asos brands including Topshop

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By Tonya Garcia

Nordstrom Inc. /zigman2/quotes/203902116/composite JWN +0.68% announced Monday that it has taken a minority interest in four brands run by online retailer Asos /zigman2/quotes/209092221/delayed UK:ASC +4.52% Topshop, Topman, Miss Selfridge and HIIT. Asos will continue to have creative and operational control of Topshop brands, but Asos and Nordstrom will have a shared ownership model. Nordstrom will have exclusive retail rights to Topshop and Topman in North America and be the only store selling the labels. Nordstrom has been the exclusive distributor for the two labels in the U.S. since 2012. Asos customers will be able to pick up their orders at Nordstrom and Nordstrom's Rack stores starting in the fall. The investment sets the stage for a broader alliance going forward, the companies say. Nordstrom shares have gained 15.4% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.91% is up 16.3% for the period.

/zigman2/quotes/203902116/composite
US : U.S.: NYSE
$ 28.12
+0.19 +0.68%
Volume: 5.15M
Sept. 17, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.47 billion
Rev. per Employee
$172,823
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/zigman2/quotes/209092221/delayed
UK : U.K.: London
3,188.00 p
+138.00 +4.52%
Volume: 492,725
Sept. 17, 2021 4:35p
P/E Ratio
17.71
Dividend Yield
N/A
Market Cap
£3.17 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,432.99
-40.76 -0.91%
Volume: 3.79B
Sept. 17, 2021 5:25p
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