Welcome to Nordstroms
NORDSTROM
COMPANY FACTS
WHO: Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 184 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 112 full-line stores, 69 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
WHAT: Nordstrom offers a large selection of quality fashion apparel, shoes and accessories for men, women and children.
WHERE: There are Nordstrom stores in Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Virginia and Washington.
Full-line Store Group
(General Geographic Areas)
Northwest 19 stores in AK, CO, OR, UT, WA
Southwest 34 stores in AZ, CA, NV, HI
Central States/South 34 stores in FL, GA, IL, IN, KS, MI, MN, MO, OH, TX
East Coast 25 stores in CT, MA, MD, NC, NJ, NY, PA, RI, VA
Nordstrom Rack Group
Nordstrom Rack carries merchandise from Nordstrom stores and Nordstrom.com at 50 - 60% off original Nordstrom prices. Nordstrom Rack offers an incredible selection of brand-name apparel, accessories and shoes for the entire family—from contemporary fashion to quality basics—purchased specially for Nordstrom Rack, with most at savings of 30 - 70% off. New merchandise arrives daily. Nordstrom operates 69 Rack stores in 21 states: AZ, CA, CO, FL, GA, HI, IL, MA, MD, MI, MN, NV, NJ, NY, OH, OR, PA, TX, UT, VA and WA.
Nordstrom Product Group
Nordstrom Product Group designs, contracts to manufacture and markets apparel, footwear and accessories especially suited to customer preferences. Nordstrom-exclusive lines are distinguished by quality craftsmanship, fit and extended size selection.
Nordstrom Direct
Nordstrom Direct, a division of Nordstrom, Inc., operates catalogs and the company’s e-commerce site, www.nordstrom.com, which serve customers anytime, anywhere.
Nordstrom Credit
Nordstrom Credit, which includes Nordstrom fsb (a federal savings bank), offers customers a variety of payment products and services including the Nordstrom Fashion RewardsÔ Program, the Nordstrom Credit Card, Nordstrom Visa Signature and Platinum Visa, and Nordstrom MOD card. Nordstrom Credit is focused on enhancing customer relationships by providing payment options that make shopping with Nordstrom more convenient.
Philosophy
Since 1901, Nordstrom has been guided by its founder’s philosophy: offer the customer the best possible service, selection, quality and value.
COMPANY DETAILSNordstrom, Inc. comprises five operating divisions:
NORDSTROM COMPANY HISTORY
In 1887, John W. Nordstrom, at 16 years of age, left Sweden for the United States. He arrived in New York with $5 in his pocket, unable to speak a word of English.
The young immigrant labored in mines and logging camps as he crossed the United States to California and Washington. In 1897, he headed north to Alaska and the Klondike in search of gold. Two years later he returned to Seattle with a $13,000 stake, ready to settle down.
Carl F. Wallin, a Seattle shoemaker Nordstrom had met in Alaska, offered him a partnership in a shoe store. In 1901, they opened their first store, Wallin & Nordstrom, on Fourth and Pike street in Seattle. John W. believed success would come only by offering customers the very best service, selection, quality and value. By remaining committed to that philosophy, the business grew and in 1923 the partners added a second store in Seattle’s University District.
When John W. Nordstrom retired in 1928, he sold his share of the company to his sons, Everett and Elmer. Carl Wallin retired soon thereafter, and in 1929 he also sold his interest to the Nordstrom sons. A third son, Lloyd, joined the team in 1933.
In the years that followed, Everett, Elmer and Lloyd Nordstrom built the company into the largest independent shoe chain in the nation. The company grew to include eight Nordstrom shoe stores in Washington and Oregon, and thirteen leased shoe departments in Washington, Oregon and California. The downtown Seattle store became the largest shoe store in the country.
By the early 1960s, the company began looking at possible expansion opportunities. On August 6, 1963, Nordstrom announced the purchase of Best Apparel, a Seattle-based clothing store with an outlet in Seattle and another at Lloyd Center in Portland, Ore.
Elmer, Everett and Lloyd immediately began modernizing Best Apparel and ran it along with the established Nordstrom shoe stores. In 1965, they opened a new Best Apparel location adjacent to their shoe store at Northgate Mall in Seattle.
The following January, the company purchased a Portland fashion retailer, Nicholas Ungar. They merged this store with the existing shoe store in downtown Portland. For the first time, customers were greeted with a new name -- Nordstrom Best. In August 1966, a new Nordstrom Best opened in Tacoma, Wash., followed by the opening of a newly remodeled Nordstrom Best in Bellevue, Wash., in November of 1967.
In 1968, Everett, the eldest brother, turned 65 years old. The brothers had all previously agreed to retire when each reached that age. Control of the company was turned over to the family’s third generation, resulting in a leadership team consisting of Everett’s son Bruce, Elmer’s sons James and John, Lloyd’s son-in-law, Jack McMillan, and family friend Bob Bender.
The third generation continued to run the company with the same philosophy their grandfather and fathers had used before them. In August of 1971, Nordstrom went public, offering Nordstrom Best stock. Nordstrom was recognized in 1973 as the West Coast’s largest volume fashion specialty store when sales passed $100 million. That same year, the company formally changed its name to Nordstrom, Inc.
The company continued to expand. In 1975, Nordstrom purchased three stores in Alaska from the Northern Commercial Company in Anchorage, Fairbanks and Kenai. Around that same time, the first Nordstrom Rack store opened in Seattle as a clearance center for Full-Line Store merchandise. Today, Nordstrom Rack stores offer clothing, shoes and accessories at 30 to 70 percent off regular retail prices.
In May of 1978, Nordstrom entered the highly competitive California market with the opening of the South Coast Plaza Nordstrom in Orange County. This store laid the groundwork for rapid expansion into other cities throughout California.
Expansion was not limited to the West Coast. In 1988, Nordstrom opened its first East Coast location at Tysons Corner in McLean, Va., and in 1990, the company opened a store in Paramus, N.J. A new Nordstrom opened in 1991 just outside of Chicago at the Shops at Oak Brook Place in Oak Brook, Illinois.
In 1995, the third generation of Nordstrom family members retired as co-chairmen, but retained their positions on the Board of Directors. In May 2006, Bruce Nordstrom retired from his position as chairman of the Board. Today, President Blake Nordstrom and his executive team manage the company. These individuals are Linda Finn, executive vice president, Marketing; Kevin Knight, president, Nordstrom Credit, Inc.; Mike Koppel, chief financial officer; Dan Little, chief administrative officer; Scott Meden, president, Nordstrom Rack; Erik Nordstrom, president of stores; Jamie Nordstrom, president, Nordstrom Direct; Pete Nordstrom, president of merchandising; and Delena Sunday, executive vice president, Human Resources and Diversity Affairs. Enrique Hernandez, Jr. is the non-executive chairman of the Board of Directors.
In 1998, Nordstrom began serving customers through its online presence at www.nordstrom.com, making Nordstrom accessible to customers 24-hours a day.
In 2000, the company acquired Façonnable, S.A.S., a collection of high-quality men's and women's apparel and accessories established in 1960 in Nice, France. The line had been sold exclusively in the U.S. at Nordstrom stores and Nordstrom-operated Façonnable boutiques since 1989, where it became one of the company's top-selling brands. In July 2007, Nordstrom agreed to sell Façonnable to M1 Group, a family-owned investment company based out of Lebanon. As of November 1, 2007, Nordstrom no longer operates Façonnable boutiques in the U.S. or Europe.
In 2005, the company purchased a majority interest in Jeffrey, two luxury specialty stores owned and created by Jeffrey Kalinsky. The two stores are located in Atlanta, Ga., and in the Meatpacking District in New York City. Jeffrey remains president and CEO of Jeffrey and is also the Executive Vice President of Designer Merchandising at Nordstrom.
Nordstrom continues to expand operations across the country. In 2009, the company relocated its Full-line store in Murray, UT and opened new Full-line locations in Cherry Hill, NJ, Peabody, MA, and Cincinnati, OH. The company also opened 13 Nordstrom Racks in 2009. Currently, Nordstrom plans to open eight new Full-Line stores, relocate two Full-Line stores, and open 14 Racks.
Today Nordstrom operates a total of 184 stores located in 28 states, with 112 Full-Line stores, 69 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom remains committed to its founding principles of providing customers with the best possible service, selection, quality and value.
Updated 11/20/2009
Phone: (206) 628-2111
Business Description
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Primary SIC — Industry Classification 5651 - Family clothing stores -
State Of Incorporation WA -
Jurisdiction Of Incorporation United States -
SEC Reporting Status SEC Reporting Company -
CIK 0000072333 -
Fiscal Year End 2/3 -
Estimated Market Cap $7,326,513,120 as of Feb 8, 2010 -
Outstanding Shares 215,485,680 as of Mar 11, 2009 -
Number of Shareholders of Record 103,543 as of Mar 23, 2009 | -
Current Capital Change shs increased by 2 for 1 split
Ex-Date: Jul 1, 1998
Record Date: Jun 8, 1998
Pay Date: Jun 30, 1998 -
Dividends Div: $.09 per qt.;
Ex-Date: May 29, 2002
Record Date: May 31, 2002
Pay Date: Jun 14, 2002 -
Company Notes - Formerly=Nordstrom Best Inc to 5-73.
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Security Notes - New Issue=7-71 441,000 at $24 1/2 by Blyth & Co Inc et al.
- Latest Addt'l Issue=10-78 900,000 shs at $21.50 by Dean Witter Reynolds, Inc et al.
- Capital Change=6-86 shs increased by 2 for 1 split
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