Nordstrom 2003 Annual Report Download - page 13

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Blake W. Nordstrom
President
We are especially excited about two new selling tools that will roll out to all full-line stores
by the end of 2004. New touch-screen, point-of-sale registers will reduce wait times, speed
up merchandise searches across our company, and connect our salespeople to
Nordstrom.com and its inventory. These registers also contain “personal book” software, a
powerful relationship-building tool that we consider a “people” initiative rather than a
“technology” initiative. Similar to the physical personal books that many of our salespeople
have relied on in the past, this new tool will track customer requests and needs online —
ensuring better accuracy and more consistent and timely follow through.
Success for our company is not going to take a new strategy or an entirely new business
model. Instead it’s taking what we already do well and continuing to execute those strengths
better — so we deliver meaningful results to both customers and shareholders. We are
privileged to have a reputation built by thousands of Nordstrom employees over the years, as
well as a current team committed to raising the bar even further. As always, our focus
remains on the customer and doing everything possible to enhance the Nordstrom
experience. We have made significant investments over the past three years on
infrastructure and tools that will improve operating efficiencies. We are learning how to use
technology to improve our flow of merchandise and strengthen our personal connection with
the customer. And we are managing expenses more effectively, creating disciplines that will
enable us to operate more profitably. We’re going to continue to invest in remodeling stores
to maintain our existing store base in a relevant and compelling way for the customer. We
owe it to our customers, employees and shareholders to evolve our operating model so it
competes effectively for the long run — a model that will be poised to take advantage of
future opportunities as they arise.
For the past several years, we have all worked hard trying to strengthen the foundation that
made this company so successful. We believe this is the best time in our company’s history
to take advantage of numerous opportunities to move our business to the next level. We are
an organization comprised of passionate, competitive individuals who are playing to win …
and to make Nordstrom more than just a store.