Essay About Retail Department Stores And Retail Stores

Nordstrom Case
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Nordstroms is one of the best-known retail department stores in the country. They offer high quality products and a wide selection of brand name and private label merchandise through out their various channels. Nordstrom is not only known for their wide range of designer products but also for their exceptional customer service. Comprise of four segments: Retail Stores, Direct, Credit and Racks, Nordstrom has been able to reach a wide range of customers. The stores offer apparel, shoes, cosmetics, and accessories for woman, man and children. They are present in 35 states and have 171 stores. They also feature a 58 outlet store called “Nordstrom Rack” off-price stores, 2 stores called “Last Chance” that are their clearance locations, 2 “Jeffrey” boutiques and “HauteLook” online private sale website. Nordstroms achieved several milestones in 2013 with a record high in sales, earnings per diluted share, and cash flow from operations. This marked the fifth consecutive year they generated over one billion dollars in cash flow from operation. Additionally, they generated a return on invested capital of 13.6% while increasing their capital investments by over 50%. This performance reflected their continued progress in executing their customer strategy through investments to drive growth across channels, while maintaining their operating discipline around inventory and expenses. There are more retail stores out there than we can count, Nordstroms main competitor is Macys department store. The offer the same product lines, however they do not offer all the same designers and do not carry a private label that can compare with the quality of Nordstrom. They also do not emphasis customers service. Nordstroms, while they carry some of the most expensive designer lines they also offer a wide variety of other lines that are reasonably price to be able to attract many types of customers. Macys does offer a Home Store that offers furniture and household goods, which is a sector that Nordstrom has not ventured into. The main reason Nordstrom believe the keys to competing and success in their industry are providing great customer service and customer experience in store and online, which include compelling price and value, fashion newness, quality of products, selection, convenience, technology, product fulfillment, personalization and appealing and relevant environments in top locations. To