Mexican department store buys a nearly 10 percent stake in Nordstrom

Liverpool, the high-end department store chain, has acquired a 9.9 percent stake in Nordstrom. The Mexican company reported double-digit sales growth in the second quarter, which it attributed to its inventory management expertise, solid merchandising and higher prices. Liverpool said it took the stake in Nordstrom because it saw the retailer as "an attractive opportunity to diversify assets geographically."