Nordstrom, Inc. Company Profile Essay

Nordstrom (NYSE: JWN) was founded in 1901 by John W. Nordstrom and Carl F. Wallin in Seattle, Washington[1]. Over the next two decades, Wallin & Nordstrom grew and they opened a second location in Seattles University District[1]. As the company expanded into the largest independent shoe chain in the United States, Nordstrom began to explore additional product lines by expanding into clothing[1]. Today, Nordstrom has annual revenues exceeding 14 billion dollars per year and operates three hundred and fifty seven stores in forty states. Although Nordstrom has experienced incredible success since their inception, the organization has realized declining sales in their retail stores. In order to combat a change in

When Nordstrom first started it wasn’t the big retail store that it is today in fact its name wasn’t even Nordstrom, it was Wallin & Nordstrom and it only sold shoes. The founders of Wallin & Nordstrom are John W. Nordstrom and Carl Wallin. Nordstrom didn 't really get that name until 1971. Before becoming just Nordstrom the company decided to make some changes and in 1963 Nordstrom decided to expand and include women apparel, and in 1966 they incorporated men’s and children 's wear. In 1973 Nordstrom was recognized as “the largest fashion specialty store on the west coast” this as stated by the Nordstrom website. Although the Nordstrom store beginnings were in the west coast the retail stores started to expand quickly and began to open stores in the east coast and California. As for today Nordstrom is not just a big retail store, but it is known as a great place to work by Fortune 100 best companies to work for, which has 329 stores located in 39 different states and Canada and 200 Nordstrom rack stores. Just in 2015 the company reached a record in sales making $14.1 billion. Nordstrom still has a long way to go and plans to keep expanding in Canada, but also plans to have 300 Nordstrom racks store by the year 2020.

Nordstrom is an upscale department store that places large emphasis on superb customer service, a wide selection of products and unbeatable quality. It is one of the largest shoe and apparel retailers in the U.S. with more than 115 department stores serving 36 states and serving over 96 countries online. Nordstrom also features 161 of off-price outlet stores called Nordstrom Rack and one clearance store. They have recently acquired a discount online apparel and home décor boutique, Hautelook, and operate a few small specialty boutiques, Jeffrey’s. Nordstrom also owns Nordstrom direct which is a combination of all types of online ordering. Additionally, they own a federal saving bank, Nordstrom fsb, which offers a private label credit card, and two co-branded VISA cards. (Biesada, 2015)

The store quickly gained a loyal following due to their amazing customer service and quality. In 1923 they opened their second store. In 1928 John Nordstrom retired and sold his shares of the company to his son’s Elmer and Everett. Wallin retired a year later and also sold his shares to the Nordstrom sons. In 1933 a third son Lloyd joined the team. The Nordstrom brothers purchased Best Apparel, a Seattle based clothing store in 1963. Three years later Nordstrom purchased a Portland fashion retail store and added a shoe store to create Nordstrom Best. Men’s clothing and children’s wear were added in 1966, and within two years two new stores opened in Washington. In 1968 the three brothers decided to retire and hand the company over to a third Nordstrom generation. In 1973 Nordstrom sales passed the $100 million mark, the company was recognized as the largest volume west coast fashion specialty store, and the name was formally changed to Nordstrom inc. In 1975 the company had expanded into Alaska, and the first Nordstrom Rack was opened in Seattle. By 1978 the company had moved into the competitive California market. In 1988 Nordstrom had made a move to the East coast with the opening of their new store in Virginia, and have continued opening Nordstrom and Nordstrom Rack stores ever since.

I am very interested in becoming a part of Nordstrom’s team through its retail management internship. As I finish my junior year at the College of William and Mary, I am proud of my academic work, my positions in diverse organizations on campus, and my overall work experience. I believe that these experiences, paired with my creativity and work ethic, make me a great candidate for Nordstrom. This summer I will be able to contribute to Nordstrom’s commitment to providing customers with the best shopping experience.

In 1901, Nordtrom, Inc, was founded by John W. Nordstrom and Carl F. Wallin who are Swedish immigrants. As the very beginning, it was a very small shoe store in Seattle, washington, howeve it has grown into a fashion specialty chain with global reach (Nordstrom, 2015). As of July 2015, the company operates 209 stores throughout 38 states in the United State and Canada. According to the company reports, the total net income of Nordtrom has been increasing in the past few years. According to Loeb, the net sales and total assets of Nordstrom improved at 8.5 and 4.8%. in addition, the net sales of the company reached $13,110 million and the net earning was $720 million in 2014 (2014). In order to make shopping become more convenient, the company provides its’ customers high-end clothing, shoes, accessories for women, men and kids. As of July 2015, Nordstrom has total 118 full-line stores, 183 Nordstrom Racks stores, two Jeffrey boutiques and one clearance store. In addition, the company also provides its customers through online at Nordstrom.com, Nordstromrack.com and Hautelook.com, a private sale site. Therefore it also helps the company make more sales from remote customers. Moreover, the company has expanded their business into a credit segment. By having its own cards, the company can increase its revenue by financial changes. According to Hoovers, Nordstrom provides its customers Nordstrom Visa cards including credit cards, debit cards

Nordstrom is a publicly traded corporation specializing in the merchandise of apparel, shoes, accessories, and cosmetics for women, men, and children. The company operates through two segments: Retail and Credit. The Retail segment includes 117 “Nordstrom” branded full-line stores, Nordstrom.com, 167 off-price Nordstrom Rack stores, Nordstromrack.com and HauteLook, and other retail channels including five Trunk Club showrooms and TrunkClub.com, two Jeffrey boutiques and one clearance store that operates under the name “Last Chance.” The Credit segment comprises of its own national banking segment that offers Nordstrom VISA cards, a VISA debit card and a private label card that can only be used in its Nordstrom stores and website.

Nordstrom, created in 1901 by John W. Nordstrom as a small shoe store in Seattle, Washington, is a major department store located in the United States and Canada. At Nordstrom you can find apparel, home goods, shoes, and accessories for your daily lives. Nordstrom has over 300 stores located in 40 states and has become one of the top department stores through their innovative tactics, great customer service, welcoming store environment, and their wide range of brands and products.

Right form the start, the business philosophy was “based on exceptional customer service, selection, quality and value” (Nordstrom Employee, 2006). Focusing on this philosophy helped Nordstrom develop a competitive advantage in the shoe market. Due to their success, the company opened a new store in 1923.

Nordstrom Inc., started as a small shoe store in Seattle, Washington in 1901. Since that time it has become one of the leading and successful shoe and apparel retailers in operation today. After reviewing different information regarding Nordstrom Inc. espoused values and enacted values, it is apparent that they are in alignment. Espoused values are the core values of the company. The history and organizational beliefs, developed into policy for the company. The goal of the espoused values is to create standard of behavior for the company. The enacted values are norms exhibited by employees (Answers, 2013). If the espoused and enacted values are misaligned problems could occur within the

Nordstrom’s has successfully distinguished itself by offering high-end merchandise, more personal selling, and having an open showroom floor, This sets them apart from other retail stores like Target, Walmart, Etc. Because their product line is simple and easy to follow.

Nordstrom empowers its employees to set their sights high and blaze their own trails. This is a place where the employees’ future success and growth are truly a result of their own efforts and achievements. They strongly believe in promoting from within, because this offers employees a unique opportunity to learn the company’s business from the ground up. Hard work, loyalty, competitive spirit and commitment to the customer are important factors employees need in order to grow within the company.

also health compensations and retirement plans, such as insurance, dental plans, and a 401k plan. These factors are significant in gaining employee satisfaction.

Establishing a culture that is customer focus starts at the very top. The Company will therefore encourage the top management to offer strong leadership to the rest of the Company. Nordstrom Inc. will develop a systematic method that will be used to monitor and collect customer feedback. The Company will build a listening program or a platform through which customers will air their views. The Company will also strive to align all its employees to its vision and objectives. The Company will take the necessary actions required to improve customer experience. Nordstrom Inc. will ensure that its employees remain committed to Company goals. It will ensure that it always provides its customers with the best customer experience.

We can give excellent customer service because we are new with a small workload. We have a specific niche market and exhibit expertise with a focus on small and midsized manufacturing companies.