John W. Nordstrom was only 16 years old in 1887 when he left his home country of Sweden to fulfill the American Dream in New York City. With no English speaking ability and only five dollars in his pocket, Nordstrom had a hard time making ends meet by laboring in mining and logging camps as he travelled across the United States to California and Washington. After ten years, Nordstrom read in the newspaper about the Klondike Gold Rush in Alaska and decided the next day to pack up and head to join the gold rush (About Nordstrom: Company History 2007).
[...] The company changed its name into Nordstrom Best when it purchased another fashion retail store in Portland. The store now offered shoes and fine apparel and expanded to Men's and children's clothing and apparel in 1966 to offer all the wardrobe needs of the entire family. In 1968, the sons of John Nordstrom decided to retire and to hand over the company to the next Nordstrom generation, that of John's grandchildren. Nordstrom went public in 1971 and quickly surpassed the $100 million sales mark. [...]
[...] As of Jan 2006, Nordstrom Inc. has operated a total of 156 stores which are distributed throughout 27 states in the United States. Nordstrom Inc. offers a huge selection of brand name and private-label merchandise. Nordstrom Inc.'s principal activity is the retailing of a wide and diverse range of apparel, shoes and accessories for women, men and children. The company comprises of four segments namely; Retail Stores, Credit, Direct and Other. The Retail Stores segment of Nordstrom Inc. derives its revenues and profits from the sales of high-quality apparel, shoes, cosmetics and accessories. [...]
[...] WEAKNESSES Nordstrom Inc. is considered to be upscale retailing and thus may have the tendency to intimidate customers that belong to the lower income class families. OPPORTUNITIES Nordstrom Inc. is faced with the 21st century challenges of the customer service which is alternative shopping through the use of the Internet and direct selling. Nordstrom Inc. has started selling directly to customers through the use of catalogs and of their online shopping website in which customers can order merchandise online or through their catalogs and Nordstrom Inc. [...]
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