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Nordstrom- One of the Favorite Fashion Retailers in the US
What makes Nordstrom what it is!
Nordstrom is a departmental store in fashion for men, women and children, shoes and accessories. The company has an unnerving eye to detail about what is in fashion. Nordstrom has been a part of the fashion world for over 100 years, which was established in the year 1901. The store is located across forty states with 347 stores. They have a 123 full line stores serving customers across USA and Canada, Nordstrom Racks across 215 locations and five clubhouses named Trunk Club.
The company has spread its wings across 96 countries through its online stores, Nordstrom.com as well as nordstromrack.com. It has consistently been a pacemaker in the world of fashion through their superior quality customer service. According to the popular survey “Composite Loyalty Score” by Market Force, Nordstrom has been a forerunner, consistently for the last four years.
Nordstrom Inc. is a publicly traded company that is listed on NYSE. Their current market value is 44.90 with a current market cap of 7.78 Billion. The Company is headquartered at Seattle, Washington with 72, 500 employees. Nordstrom has total revenue of $14.44 Billion as of 2015. According to a survey by Market force in December, 2016 Nordstrom topped the list with 58%. The company gets about 21% of their revenue from e-Commerce and has a phenomenal online presence across several social media networks with a high popularity. With a great Customer service, the company has a fairly good streak going on, it is at present the second largest among department stores on the Stella Service List. The Gross profit for the Company has gone up compared to 2015, in the year 2016, which was 5.27 Billion, as well as the cost of goods sold which was 9.17 Billion as of 2016.
The inception of Nordstrom can be traced back to 1901, when John W. Nordstrom opened the first Nordstrom store at Seattle in partnership with Carl F. Wallin. The vision of John W has always been to provide highest quality customer service as well as exceptional quality products. Following the collaboration of the three brothers Everett, Elmer and Lloyd in 1933, the company saw the peak of its glory in the consecutive years building the largest chain of stores for shoes in the USA. It then included eight stores in Washington and Oregon along with leased shops across Washington, Oregon and California. The store at Seattle has since been the largest store in the country.
Being a Part of the Nordstrom Journey
As a result of falling gasoline prices and improved GDP in the USA, consumer spending is expected to go up. However, the number of people visiting malls has gone down as a result of ease of e-Commerce shopping boom. This has greatly affected the department store businesses. However, Nordstrom has been able to weather this challenge very well as compared to its peers. Nordstrom is scheduled to open four more stores in the next two years and their first full-line store in the city of Manhattan in the year, 2018. The Company has witnessed tremendous growth in the e-Commerce field. Online sales grew four times from $563 million in 2009 to $2.36 Billion in the year 2014.
The acquisition of HauteLook and launching Nordstromrack.com has massively contributed to the organic growth of Nordstrom. According to popular opinion, Nordstrom is one of the best department stores to invest into. One of the ways you can invest into Nordstrom is by buying their shares. With a flair for geographical expansion Nordstrom is expected to grow in the coming years even as it expects a sharp growth in their e-commerce retail market.
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