Nordstrom Has Growth Spurt
By George Anderson
It doesn’t seem that long ago that industry observers were asking what was wrong with Nordstrom?
Well, having just come off the best year in its history and with same-store sales continuing an upward trend, the present answer is, nothing is wrong with Nordstrom.
In fact, it may be hard for some to imagine things being much better for the department store retailer that defines the term customer service in the minds of many U.S. shoppers.
The chain has recently announced it will open new stores from Massachusetts to Hawaii with a total of 10 new locations planned to be operating by 2008.
It has also indicated that number could rise if prime space becomes available. Blake Nordstrom, president of Nordstrom told the Seattle Times, “When the right opportunity
comes along, we believe we have the ability to react pretty quick.”
Moderator’s Comment: Does the recent success of operators such as Nordstrom and J.C. Penney indicate there may be
more vitality in the department store channel than is generally thought? What are the keys to successful department store retailing?
The Seattle Times described the mood at Tuesday’s annual Nordstrom shareholders meeting as upbeat. Having share prices rise 118 percent over one year
will do that for shareholders. –
George Anderson – Moderator