Nordstrom Bank Essay

656 words - 3 pages

SHORT CASE 1: NORDSTROM
Nordstrom, Inc. is an upscale department store chain in the United States, founded by John W. Nordstrom and Carl F. Wallin. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings. There are now 225 stores operating in 29 states across the U.S. The corporate headquarters and the flagship store are located in Downtown Seattle, Washington.
NORDSTROM BANK & FASHION REWARDS PROGRAM: Nordstrom FSB, a wholly owned subsidiary of Nordstrom, Inc., is a federally chartered savings bank doing business as Nordstrom Bank. It was formed in 1991 in Scottsdale, Arizona, with ...view middle of the document...

Nordstrom Rack is now included too. The top two member levels (3 and 4) annual spend levels have been halved - level 3 is achieved now with annul spend of $5000+ and Level 4 for $10,000+. Nordstrom officials say the number of Fashion Rewards members is growing (about 2.6 million), as is the amount they are spending. Kevin Knight, president of Nordstrom Credit, told the Wall Street Journal that these customers make twice as many shopping trips and spend three times more than a typical Nordstrom shopper. The change-up is part of Nordstrom's efforts to drive more shoppers to its stores. Sales are trending up - preliminary year-to-date total sales for 2011 were up nearly 13 percent to $9.8 billion compared with 2010.
Employee Empowerment: Nordstrom was listed at No. 72 in Fortune magazine's 100 Best Companies to Work For 2009. For many years, new employees were given a copy of the famous Nordstrom's Employee Handbook – a single 5-by-8-inch (130 × 200 mm) gray card containing 75 words:
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