Nordstrom 2007 Annual Report Download - page 13

Nordstrom, Inc. and subsidiaries 5
In order to offer merchandise that our customers want, we purchase merchandise from a wide variety of high-quality suppliers. We also have
arrangements with agents and contract manufacturers to produce our private label merchandise. Our suppliers include domestic and foreign
businesses. We expect our suppliers to meet our “Nordstrom Partnership: Standards and Business Practice Guidelines,” which address our
standards for matters such as law, labor, health and safety, and environment.
COMPETITIVE CONDITIONS
Our business is highly competitive. Each of our stores competes with other national, regional and local retail establishments that may carry similar
lines of merchandise, including department stores, specialty stores, boutiques, mail order and Internet businesses. Our specific competitors vary from
market to market. We believe the principal methods of competing in our industry include customer service, fashion, quality of product, depth of
selection, store environment and location.
EMPLOYEES
During 2007, we regularly employed on a full or part-time basis approximately 55,000 employees. Due to the seasonal nature of our business,
employment increased to approximately 58,500 employees in July 2007 and 56,500 in December 2007.
CAUTIONARY STATEMENT
Certain statements in this Annual Report on Form 10-K contain “forward-looking” statements (as defined in the Private Securities Litigation Reform Act
of 1995) that involve risks and uncertainties, including anticipated results, planned store openings, capital expenditures, and trends in our operations.
Actual future results and trends may differ materially from historical results or current expectations depending upon various factors including those
discussed below and elsewhere in this Annual Report on Form 10-K, particularly in Item 1A under the heading “Risk Factors.” These factors include our
ability to respond to the business environment and fashion trends, effective inventory management, the impact of economic and competitive market
forces, successful execution of our store growth strategy including the timely completion of construction associated with newly planned stores,
relocations and remodels, our compliance with information security and privacy laws and regulations, employment laws and regulations and other
laws and regulations applicable to the company, successful execution of our multi-channel strategy, our ability to safeguard our brand and reputation,
efficient and proper allocation of our capital resources, successful execution of our technology strategy, the impact of terrorist activity or war on
our customers and the retail industry, trends in personal bankruptcies and bad debt write-offs, changes in interest rates, our ability to maintain our
relationships with our employees, our ability to control costs, weather conditions and hazards of nature that affect consumer traffic and consumers’
purchasing patterns, and the timing and amounts of share repurchases by the company.
These and other factors could affect our financial results and cause actual results to differ materially from those contained in any forward-looking
statements we may make. As a result, while we believe there is a reasonable basis for the forward-looking statements, you should not place undue
reliance on those statements. We undertake no obligation to update or revise any forward-looking statements to reflect subsequent events, new
information or future circumstances.
SEC FILINGS
We file annual, quarterly and current reports, proxy statements and other documents with the Securities and Exchange Commission (“SEC”).
All material we file with the SEC is publicly available at the SEC’s Public Reference Room at 450 Fifth Street, NW, Washington, DC 20549. You may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains an Internet Web site at
www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC.
WEB SITE ACCESS
Our Internet Web site address is www.nordstrom.com. We make available free of charge on or through our Internet Web site our annual reports on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, statements of changes in beneficial ownership of securities on Form 4 and
amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we
electronically file the report with or furnish it to the SEC. Interested parties may also access a webcast of quarterly earnings conference calls and
other financial events over our Internet Web site.
CORPORATE GOVERNANCE
We have a long-standing commitment to upholding a high level of ethical standards. In addition, as required by the listing standards of the New
York Stock Exchange (“NYSE”) and the rules of the SEC, we have adopted Codes of Business Conduct and Ethics for our employees, officers and
directors (“Codes of Ethics”) and Corporate Governance Guidelines. We have posted on our Web site our Codes of Ethics, our Corporate Governance
Guidelines, and our Committee Charters for the Audit, Compensation, Corporate Governance and Nominating, Executive, and Finance committees.
These items are also available in print to any person without charge upon request to:
Nordstrom, Inc. Investor Relations
P.O. Box 2737
Seattle, Washington 98111
[phone]
[email protected]