Competitive Advantage at Nordstrom
Nordstrom is one of American’s most successful department store fashion retailers. John Nordstrom, a Swedish immigrant, established the company in 1901 with a single shoe store in Seattle. From the start, Nordstrom’s approach to business was to provide exceptional customer service and product selection, quality, and value. This approach remains Nordstrom’s hallmark today.
The modern Nordstrom is a fashion specialty chain with more than 100 high-end “full-price” department stores across the United States, and another 250 “off-price” Nordstrom Rack stores. Nordstrom generated almost $15 billion in sales in 2022. Between 2012 and 2022, Nordstrom’s returns on invested capital averaged 14% annually (which is good for a retailer), even though the company was hit hard by the COVID-19 pandemic in 2020 and 2021. Nordstrom returned to profitability in fiscal 2022 and seems set to return to its long-term history of outperformance.
What must Nordstrom do to maintain its competitive advantage going forward?
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