Nordstrom

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Headquarters: 1617 Sixth Avenue Seattle, WA 98101 Employees: 54,000 CEO: Blake Nordstrom Stock Symbol: JWN Website: http://www.nordstrom.com Career Site Nordstrom is one of the nation's leading fashion retailers and sells clothing, shoes and accessories for both men and women. Nordstrom is well known for a wide-selection of merchandise and for providing exceptional customer service. The company operates 169 stores located in 28 states. There are 109 flagship Nordstrom stores as well as 56 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores. The company also sells products by catalog and its website. For fiscal 2008, Nordstrom saw total sales for the year decrease 6.3 percent to $8.3 billion. Full year same-store sales decreased 9.0 percent. Net income for the year was $401 million. In 2009, Nordstrom plans to open three new full-line stores and relocate one full-line store: -- On March 6, a relocated full-line store at Fashion Place in Murray, Utah that replaces a store built in 1981 -- On March 27, a new store at the Cherry Hill Mall in Cherry Hill, New Jersey -- On April 17, the company's third Boston-area store at the Northshore Mall in Peabody, Massachusetts -- On September 25, a new store at Kenwood Towne Centre in Cincinnati, Ohio In spring 2009, Nordstrom plans to open five new Nordstrom Rack stores: -- Park Lane in Dallas, Texas -- Bergen Town Center in Paramus, New Jersey -- The Commons at Southtowne in Sandy, Utah -- Orland Park Place in Orland Park, Illinois -- Ravenswood 101 in East Palo Alto, California In fall 2009, Nordstrom plans to open five new Nordstrom Rack stores: -- Beverly Connection in Los Angeles, California -- Shops of Southlake in Southlake, Texas -- Millenia Crossing in Orlando, Florida -- Hastings Village in Pasadena, California -- Rookwood Pavilion in Cincinnati, Ohio History In 1901, John Nordstrom would open his first shoe store with a friend Carl Wallin, whom he met in Alaska. Nordstrom earned $13,000 through a stake in an Alaskan gold mine. The first store was located in downtown Seattle and named Wallin & Nordstrom. From the beginning, John's business philosophy was based on exceptional service, selection, quality and value. The company built a devoted customer base; and in 1923, the partners added their second store. In 1928, John Nordstrom retired and sold his share of the company to his sons, Everett and Elmer. Carl Wallin retired a year later and also sold his share of the company to the Nordstrom sons. A third son, Lloyd, joined the team in 1933. The company became the top independent shoe retailer in the country and expanded into clothing in 1963 with the purchase of the Best Apparel clothing chain. Nordstrom became a full-fledge department store and went public in 1971. Benefits Nordstrom provides medical and dental coverage with a four-month waiting period after employment begins. Disability, life insurance and accident insurance also provided after four months of work. Paid time off is available to employees after 1,000 hours of service. Paid holidays are given after 520 hours of service. 401(k) is offered after three months of hire. Nordstrom will match the first 4% of contributions. Additional contributions will be made depending upon company's annual profitability. Employee stock purchase is available at 10% discount. Employee discount on merchandise is provided at stores and online. The discount may vary. Three times a year Nordstrom offers 40% discount on select merchandise. Nordstrom has its own bank which provides checking accounts to employees and Nordstrom Visa cards. Updated March 5, 2009