Planning & Control at Nordstom's

IA. Business Strategy and Objectives

One primary source of influence for Nordstrom's is the fact that it is the third largest upscale apparel retailer in the United States (trailing behind Federated Stores and the May Company.) The term "Upscale" is always used in reports about the store, although that is such a relative term in the United States economy that it has come to be almost meaningless. "Upscale" used to mean more affluent buyers who had more discretionary income, and wanted to spend it on more stylish items. However, such mass retailers as Wal-Mart, Target and K-Mart have also started billing much of their merchandise as "upscale." The financial results of Nordstrom's, illustrated later, suggest that the "upscale" definition has not helped its bottom line. This is significant of another trend in the world economy that those who have money are not particularly anxious to part with it, when the promise of substitute products at a lower price are available.

The company, with more than 75 stores and about 40 outlet stores (Nordstrom Rack) in 24 states, also operates a clearance store, two freestanding shoe stores, and three Fatonnable boutiques, and it sells goods online and through two catalogs. From its inception, another area of influence was its strong, almost zealous, devotion to customer service. Culturally, the company refers to its employees as "Nordies" and each employee is challenged to find out ways that

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Online Spiegel J.C. Penney Target Sears, WalMart, Nordstrom's I.C. Organizational Structure Nordstrom's is a NASDAQ traded stock, and one-third (approximately) of the shares are held by family members. Its organizational history shows a constant ebb and flow between privately held and public ownership. This brief timeline of its existence from the company's web site shows its history. 1901 John Nordstrom, a lumberjack and successful gold miner, opened Wallin & Nordstrom shoe store in Seattle with shoemaker Carl Wallin. 1928 Nordstrom retires and sells his half of the business, which included a second store, to his sons Everett and Elmer. 1929 Wallin sells his share to the brothers after retiring 1933 Lloyd Nordstrom, brother to Everett and Elmer buys in. 1946, company incorporates under Washington State law as a shoe retailer Nordstrom's in 1946. 1963 company diversifies by buying Best Apparel, taking it into full clothing 1966 buys Nicholas Ungar, a fashion chain, and renames its company Nordstrom Best 1971, goes public 1973 changes name back to Nordstrom's 1976, starts Place Two (clothes and shoes) in smaller outlets 1986 first East Coast store 1993 opens Facconable, upscale men's clot
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Approximate Word count = 2090
Approximate Pages = 8 (250 words per page)