Nordstroms Inc.
MetroJacksonville explores the high-end "contemporary" department store Nordstroms.
Published September 8, 2012 in Weekend Edition 20 Comments
Print Article
Photo Credit: Wedding Dress 9
Nordstrom Headquarters and Department Store in Downtown Seattle
Company Founder (John W. Nordstrom)
Photo Credit: Nordstrom
History
Nordstrom department store was originally founded by John W. Nordstrom and business partner Carl Wallin in 1901 as Wallin & Nordstrom in downtown Seattle. The store primarily focused on shoe sales, and was based on John’s business philosophy of “exceptional service, selection, quality and value.”
With continued growth, the company had eight stores in Washington and Oregon by 1960. The downtown Seattle store became the largest shoe store within the United States surpassing department stores in New York City, Chicago, and Los Angeles. The company was looking to expand and Nordstrom purchased Best Apparel a Seattle-based clothing store in 1963.
Through several acquisitions of clothing stores within the Pacific Northwest customers faced a new brand titled “Nordstrom Best.” In 1966 Men’s and Children’s wear were added and by 1971 the company went public. In 1973, Nordstrom sales grossed over $100 million dollars and soon became the largest-volume fashion specialty store in the West Coast. It wasn’t until this milestone the name was formally changed to the company’s present name “Nordstrom.Inc.”
As pictured a “Nordy” plush toy which is meant to resemble a shoehorn. Children were given these plush toys when the children’s shoe department opened.
Economics
Private investor Joshua Kennon mentions the “average” Nordstrom consumer.
"According to research from the private wealth division of Citibank, the average shopper at Neiman Marcus has household income of $250,000 per annum. The average Nordstrom customer, in contrast, earns $100,000 each year.
That means the average Neiman Marcus customer earns roughly $20,834 before taxes and, with standard deductions, probably $15,000 in take-home pay each month. The average Nordstrom customer, in contrast, earns $100,000 each year, or $8,334 gross per month, which results in $6,000 net after tax deductions and payments.
Both shoppers are considerably higher than the $50,000 annually earned by the average American household and the $35,000 earned by the average Wal-Mart shopper. Put another way, if you shop at Nordstrom you likely earn 2x the average American family and if you shop at Neiman Marcus, you likely earn 5x the average American family.
If you are a doctor, an attorney, a wealthy business owner, or a bank president, your wardrobe is incredibly important. It instantly conveys to prospective clients that you are successful and good at what you do. It is a symbol that instantly communicates without words. Furthermore, your wardrobe is going to last probably an average of 3-5 years rolling. That means that you could amortize the cost in accounting terms.”
Source
Company aesthetics
The Santa Monica store (Handbags & Accessories)
Photo Credit: LA Racked
Today Nordstrom pride’s itself as a contemporary upscale department store. Nordstrom had over $1 billion dollars in cosmetic total sales. Nordstrom's is undergoing their next "evolution" with the partnership of British retailer Topshop and Topman to reach a younger demographic. The Topshop/Topman brand arrives in store September 10th, and the collections are released via online or select Nordstrom stores.
Topman (men's style)/Topshop (women's style)
Photo Credit: The High Low
So what's next for Nordstroms? They have great appeal with their "lower cost" Nordstrom Rack stores. With the beginning of Nordstroms entering the Northeast Florida market could it mean we will eventually receive a Nordstrom Rack store? Only time will tell, but may all "fashionistas" and "fashionistos" rejoice for the 2014 opening of the Jacksonville store.
Share this article
Welcome Guest. You must be logged in to comment on this story.
What are the benefits of having a MetroJacksonville.com account?
What are the benefits of having a MetroJacksonville.com account?
- Share your opinion by posting comments on stories that interest you.
- Stay up to date on all of the latest issues affecting your neighborhood.
- Create a network of friends working towards a better Jacksonville.
Already have an account? Login now to comment.
RSS
spuwho
September 08, 2012, 03:41:50 PMThey really are up to snuff. When I lived in Seattle they had the best selection. I still have clothes I bought at Nordstrom several years ago. They really hold up in time and in fashion. The women will love the shoe selection. They should open a Nordstrom Rack either at Regency or in San Marco. Great off-price store. A quality brand.
cityimrov
September 08, 2012, 10:33:11 PMShoes. Interesting. Jacksonville has a famous guy who also sells shoes. Could he create the next Nordstroms?
gjosephunf
September 09, 2012, 09:14:49 PMCityimrov ---- Who is this guy?
Spuwho ---- I agree! I definitely think Nordstrom Rack would do well in the Regency or who knows maybe Downtown?
I love their selection of men's accessories and shoes. It was the very first store where I purchased Toms slip-on shoes.
Adam W
September 10, 2012, 05:36:41 AMGerald - I'm pretty sure "fashionista" is gender-neutral, like "Sandinista"
mbwright
September 10, 2012, 09:15:04 AMIt's been a long time since I've been at Nordstrom. I grew up near South Coast Plaza, and a real flagship store. The Rack was great, and had some awsome sales. I would be that more could afford the Rack prices, but the regular store sales are great, too. A Rack at Regency would surely help that mall.
Jason
September 10, 2012, 09:38:08 AMThe guy referenced is noe other than Wayne Weaver who owns Nine West.
ben says
September 10, 2012, 09:40:50 AMCry me a river re: regency....
Bring the Rack to Riverside or San Marco or Downtown!!
Adam W
September 10, 2012, 09:49:59 AMI thought he owned Shoe Carnival. I didn't realise he still owned Nine West.
Captain Zissou
September 10, 2012, 09:54:00 AMAdam W
September 10, 2012, 09:59:00 AMAh, I see. I could've sworn I remembered him selling off Nine West years ago after he bought the Jaguars. But I could totally be wrong about that. I've always linked him with Shoe Carnival, for some reason. I think maybe because I thought the name was funny.
avonjax
September 10, 2012, 10:11:50 AMI love the Nordstrom Rack at Mall at Millenia. That would be another great retail option for us.
thelakelander
January 15, 2013, 08:09:13 AMHere is the elevation of the proposed Nordstrom Rack store going in across the street at the Markets at SJTC:
http://ldiline.com/showpdf.cfm?proj=177439&file=104ARC_A4.1.pdf&dir=ARC
Here is the site plan. The new Moxie Restaurant is identified as building "C".
http://ldiline.com/showpdf.cfm?proj=177439&file=002CIV_3.pdf&dir=CIV
avonjax
January 15, 2013, 08:28:48 AMSo we are getting a Nordstrom's and Nordstrom Rack. That's kinda like hitting the jackpot. Love both stores.
mbwright
January 15, 2013, 08:41:29 AMWould be great if they would put the Rack in Tallahassee. There is no chance we'd get a Nordstrom here.
tufsu1
January 15, 2013, 08:46:01 AMyes
Captain Zissou
January 15, 2013, 09:01:33 AMBased on the drawing that includes Moxie, it looks like there is a retail space in the bottom of that apartment building. In the mid right of the screen it says 'Vacant' inside what looks like a section of the apartment building. I am guessing that means it is a space for future retail. It also looks like those apartments will have angled surface parking surrounding the building, which is a huge shame.
Wacca Pilatka
January 15, 2013, 09:21:08 AMI am pretty sure you're right. I think WW sold all his Nine West stock shortly after buying the Jaguars, and I think he also resigned as Nine West CEO to focus on building Shoe Carnival.
downtownjag
January 15, 2013, 11:27:49 AMI don't know the difference between the stores; are they not cannibalizing their business by putting both in the Town Center? The rack looks like it's going in the vacant 20K SQ FT bay?
fsujax
January 15, 2013, 11:55:06 AMThe Rack sells what couldn't be sold in the regular store. Sort of like Neiman Marcus's Last Call stores.
thelakelander
January 15, 2013, 12:03:36 PMIt will be a new store built from the ground up.