When exploring the Nordstrom family's remarkable journey in the retail world, one uncovers a fascinating array of statistics that reveal the depth of their influence and the scale of their operations. Here are ten interesting facts about the Nordstrom family and their influential store:
Nordstrom Key Statistics in 2024
| Statistic | Value |
|---|---|
| Revenue | $13.5 billion |
| Net Income | $750 million |
| Number of Stores | 350 |
| Online Sales Proportion | 40% of total revenue |
| Employee Count | 62,000 |
| Customer Satisfaction Rating | 85% |
| Capital Expenditure | $1.2 billion |
Top Facts About Nordstrom Family
1. Founding and Origin
Nordstrom was founded as a shoe store by John W. Nordstrom and Carl F. Wallin in Seattle in 1901. John Nordstrom, originally Johan Wilhelm Nordström, immigrated to the United States from Sweden at the age of 16 (Nordstrom).
2. Public to Private Transition
Recently, the Nordstrom family, along with Mexican retail group El Puerto de Liverpool, agreed to take the company private in a $6.25 billion deal. This move comes after a substantial 70% decline in Nordstrom's market valuation since 2015 (Retailboss).
3. Ownership and Control
Following the privatization deal, the Nordstrom family retains a majority ownership stake of 50.1%, with Liverpool holding the remaining 49.9%. Key family members involved in the acquisition include Erik, Pete, and Jamie Nordstrom (Forbes).
4. Market Presence
Nordstrom's audience is predominantly female, accounting for 71.44% of its website traffic. The largest age demographic of visitors is between 25-34 years old (SimilarWeb).
5. Historical Evolution
Over the past century, Nordstrom has evolved from a single shoe store into a leading fashion retailer with an extensive selection of shoes, clothing, accessories, and home goods (Nordstrom).
6. Executive Leadership
Erik and Pete Nordstrom, great-grandsons of the founder, are the company's CEO and President, respectively. Their aunt Anne Gittinger and cousin Jamie Nordstrom, the Chief Merchandising Officer, are also part of the leadership (Forbes).
7. Valuation and Share Premiums
As part of the privatization deal, Nordstrom shareholders will receive $24.25 per share, representing a 42% premium since March 2024 (PR Newswire).
8. Cultural Values
Nordstrom's culture is built on five key values: being customer-obsessed, taking ownership at heart, being curious and ever-changing, being competitive to win, and extending oneself (Values Alliance).
9. Acquisition History
The family's decision to go private was driven by their belief that the company was undervalued on public markets. This follows a previous attempt in 2017 to privatize the company, which included rejecting an $8.4 billion buyout due to the perceived low offer (National Jeweler).
10. Target Market
Nordstrom's primary target market consists of affluent individuals aged 25-54, with an average household income of over $100,000. They position themselves among other premium retailers such as Macy's, Bloomingdale's, and Neiman Marcus (Canvas Business Model).
