In 1901, the founder, John W. Nordstrom, started Nordstrom as a small shoe store in Seattle Washington. In 1963, Nordstrom spread their business to the clothing market. Today, Nordstrom is leading the industry of fashion retail in the U.S. employing 49,700 full-time employees. They also operate two other sub segments: indirect selling such as e-commerce and catalogs, and credit operation. Plus, they provide restaurant and spa services in many of their retail locations. In 2005, Nordstrom operates 152 stores including 95 full-line stores, 49 Nordstrom Racks, five boutiques, one shoe store, and two clearance stores in the U.S. Nordstrom offers shoes, clothing, accessories, handbags, jewelry, cosmetics fragrances and in some locations, home furnishings. Its major competitors are, Bloomingdales, Lord and Taylor, Von Maura Neiman Marcus and Saks Fifth Avenue.
Nordstrom's culture is to satisfy its customers. Their principal roles are to pursue what the most pleased service is and focus unstinted effort on making customers satisfied by serving the best possible service, selection, quality and value. Also, their diversity mission statement is, to value the richness of diversity in the workforce that makes the company superior and the communities they serve stronger and cultivate an environment that every employee, customer, vendor and their contributions are respected.
In 2012 the Nordstrom company has proved itself to be successful its revenues at Nordstrom Inc. totaled $10.5 billion, this is 12.7% more then the results of the year before. The annual earning equaled $3.20 per share. Its revenues have been increasing over the past years and it shows that this company is very successful and is really sustainable on growing. The successes of Nordstrom is that the company was able to reduce the percentage of sales devoted to cost of goods sold from 66.27% to 64.98%. which is really good especially for a company the size of Nordstrom. This led to a bottom line growth from $613 million to $683 million.
The net change in cash in 2012 was $371 million dollars, the company did have enough to cover property, and plant and equipment purchases. cash flow
|Millions of US Dollars |As of: |Jan 31 |Jan 30 |Jan 29 |Jan 28 | | | |2009 |2010 |2011 |2012 | | | |Reclassified | | | | |Depreciation & Amortization |302.0 |313.0 |327.0 |355.0 |[pic][pic]| | | | | | |[pic][pic]| |Amortization of Goodwill and Intangible Assets |-- |-- |-- |16.0 |[pic][pic]| | | | | | |[pic][pic]| |DEPRECIATION & AMORTIZATION, TOTAL |302.0 |313.0 |327.0 |371.0 |[pic][pic]| | | | | | |[pic][pic]| |Tax Benefit from Stock Options |-1.0 |-1.0 |-1.0 |-2.0 |[pic][pic]| | | | | | |[pic][pic]| |Provision & Write-off of Bad Debts |173.0 |251.0 |149.0 |101.0 |[pic][pic]| | | |...