Nordstrom Resume Essay

The stock price went from $34 at the beginning of the 2010 fiscal year to $46 dollars in April largely

Nordstrom is an ideal store based in US equipped with fashionable items that can be bought through coupons availed through Nordstrom coupons. The Nordstrom coupon codes are another way to make discounted deals you can search for on the online web. Women make their important buys of fashionable items which is sold with use of Nordstrom coupon.

It shows that Nordstrom has $1.84 of non-operating liabilities for every dollar of shareholder’s equity. The company has less financial leverage compare to year 2008.

Abercrombie & Fitch (A&F), an American retailer that concentrates on upscale casual wear for young consumers, which was founded in Manhattan, New York City in June 4, 1892 by two young minds of David T. Abercrombie and Ezra Fitch. Beginning with a rough journey of selling sporting outfits and excursion goods such as fishing and hunting equipment, A&F had to file bankruptcy in 1977. Soon thereafter, the company was revived after Jake Oshman, owner of Oshman Sporting Goods, bought A&F in 1978. A&F was relaunched as a mail-retailer company specializing in hunting wear and novelty items, but was bought by The Limited ten years after its revival. The gradual shift to focusing on apparels for young consumers began when A&F was a subsidiary of Limited Brands, and since then, A&F has grown to become one of the largest apparel firms in the United States. In 1998, A&F launched Abercrombie Kids, targeting consumers from age 7-14, which further increases its revenue. In 1999 to early 2000s, A&F’s sales skyrocketed as it hit its zenith, by portraying A&F clothing as the “coolest thing” through billboard-winning song that compliments A&F in the lyrics, as well as other advertisements. Furthermore, A&F launched a subsidiary called Hollister to tackle similar age group of target audience but with lower income. This expansion to dominate the market of teenagers through consideration of other demographic factor, namely income, was exceptional for A&F’s revenue. Presently, A&F focused on

In this report, I am researching Nordstrom in order to gain information on if this company would be a good company for an undergraduate student to complete an internship with. I plan on finding out information on topics such as company culture, financial analysis, growth, and competition. I will look deeply into the company’s strengths and weaknesses in order to learn about sustainability and potential for long-term employment.

When Nordstrom first started it wasn’t the big retail store that it is today in fact its name wasn’t even Nordstrom, it was Wallin & Nordstrom and it only sold shoes. The founders of Wallin & Nordstrom are John W. Nordstrom and Carl Wallin. Nordstrom didn 't really get that name until 1971. Before becoming just Nordstrom the company decided to make some changes and in 1963 Nordstrom decided to expand and include women apparel, and in 1966 they incorporated men’s and children 's wear. In 1973 Nordstrom was recognized as “the largest fashion specialty store on the west coast” this as stated by the Nordstrom website. Although the Nordstrom store beginnings were in the west coast the retail stores started to expand quickly and began to open stores in the east coast and California. As for today Nordstrom is not just a big retail store, but it is known as a great place to work by Fortune 100 best companies to work for, which has 329 stores located in 39 different states and Canada and 200 Nordstrom rack stores. Just in 2015 the company reached a record in sales making $14.1 billion. Nordstrom still has a long way to go and plans to keep expanding in Canada, but also plans to have 300 Nordstrom racks store by the year 2020.

Nordstrom has famously been known for its lean retail prices and its tight inventory. Nordstrom uses demand forecasting to minimize leftover inventory. Nordstrom’s total corporate management is based on two main goals. One is to associate purchasing with demand to keep inventory as lean as possible. Second is to present customers and sales associates with a wide-ranging view of Nordstrom’s entire inventory, including all stores and warehouses. Nordstrom relates purchasing with demand to keep inventory lean and show customers and employees Nordstrom’s inventory. Nordstrom keeps its items in stock for an extremely short period of time so that if a customer wants it, they only have

This store is an off-price retailer that buys the overstock or imperfect items from other department stores. The prices are usually lower in contrast to Nordstrom that sells exclusive clothes from various designers. The level of service is much lower than in Nordstrom. Salespeople are not as enthusiastic and motivated to provide that one-on-one attention to their customers.  As a result, they do not tend to build long-term relationships with customers. Usually a customer cannot find an item due to the store 's disorganization and it is difficult to ask for help finding specific products.  Furthermore, Ross ' strict return policies and guidelines make it difficult for customers to return items.

Nordstrom’s is classified as one of the biggest U.S. department stores. Along with Sears, Macy’s, and JC Penny’s, Nordstrom manages each department in their stores as an individual buying center. Every group functions separately from one another, and is administered by a buyer who is in charge of all varieties and styles of merchandise sold. Promotions that can be used in the stores are included, as well. “The company has also benefited from a new computerized inventory system that gives buyers and salespeople the necessary data to make smarter decisions about what is needed in the stores—and what isn’t.” (Lamb, Hair, McDaniel 569). This new and improved system allows the department store to market a greater amount of full priced items, which ultimately increase sales. The buyer is also able to easily determine what items to obtain and exhibit in the store by using this system.

As someone who has never had the privilege of living near a Nordstrom’s I’ve always seen going to the store as a treat. Because of where I’ve lived I had never seen an advertisement. What I do find interesting however is their influence over Google and other search engines. I online shop more than I care to admit and anytime I google an article of clothing described a business, or semi-formal their brand pops up in the top 5.

Identify the type of retailer that Nordstrom’s is classified as. Describe the characteristics it shares with other retailers of this type..

Nordstrom, created in 1901 by John W. Nordstrom as a small shoe store in Seattle, Washington, is a major department store located in the United States and Canada. At Nordstrom you can find apparel, home goods, shoes, and accessories for your daily lives. Nordstrom has over 300 stores located in 40 states and has become one of the top department stores through their innovative tactics, great customer service, welcoming store environment, and their wide range of brands and products.

The diagram above outlines the customer service gap. Customer satisfaction refers to a person’s belief on the service provided to the. It describes whether the services accorded to them was a success or was it a failure. The expected service on the other hand refers to what your consumer wants whereas the perceived services is what they feel they have received. The gap is what Nordstrom Inc. is striving to close. Business enterprises should strive to ensure that customers receive what they expect(Nordstrom & Lattin, 2008). They should lay down procedures or steps that will aid in closing up the gap that exists.

Nordstrom’s employees and management are the company’s most valuable resource. An article written in the Seattle PI describes exactly why this is true. It states that, “Nordstrom salespeople make decisions as if managing their own business; they are trusted to do what is right. Everyone else in the company is there to help the sales staff make the sale and please the customer” (Mulady, 2009). The way the employees are treated and valued is a perfect portrayal of the company’s mission of providing the best possible customer service and value to the customer.

Time value of money. With the initial $700 million expansion investment, and growth projected at 3% year-over-year for the next five years, the best-case scenario would be most beneficial for Nordstrom to pursue. Whereas, the best-case scenario’s cash flows are 20% higher than the average-case scenario, and the worst-case scenario’s cash flows are 20% less. The conclusion that the best-case scenario is the most lucrative investment opportunity for Nordstrom is based on the factors of Net Present Value (NPV), Internal Rate of Return (IRR), and pack back values, with a discount rate of 10%, and a payback goal of five years. Together, NPV, IRR, and payback values, shed light on factors based on predictability, and are outlined in Table 2. However,