Nordstrom 2008 Annual Report Download - page 5

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 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 2008, we regularly employed on a full- or part-time basis approximately 51,000 employees. Due to the seasonal nature of our business,
employment increased to approximately 54,000 employees in July 2008 and 52,000 in December 2008.
CAUTIONARY STATEMENT
Certain statements in this Annual Report on Form 10-K contain “forward-looking” information (as defined in the Private Securities Litigation Reform Act
of 1995) that involve risks and uncertainties, including, but not limited to, anticipated financial results, store openings, capital expenditures and
dividend yield, and trends in company operations. Such statements are based upon current beliefs and expectations of the company’s management and
are subject to significant risks and uncertainties. Actual future results and trends may differ materially from historical results or current expectations
depending upon factors including, but not limited to, the impact of deteriorating economic and market conditions and the resultant impact on
consumer spending patterns, the company’s ability to respond to the business environment and fashion trends, the competitive pricing environment
within the retail sector, effective inventory management, the effectiveness of planned advertising, marketing, and promotional campaigns, successful
execution of the company’s store growth strategy including the timely completion of construction associated with newly planned stores, relocations,
and remodels, all of which may be impacted by the financial health of third parties, the company’s compliance with applicable banking and related laws
and regulations impacting the company’s ability to extend credit to its customers, the company’s 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 the
company’s multi-channel strategy, the company’s ability to safeguard its brand and reputation, efficient and proper allocation of the company’s capital
resources, successful execution of the company’s technology strategy, trends in personal bankruptcies and bad debt write-offs, availability and cost of
credit, changes in interest rates, the company’s ability to maintain its relationships with company employees and to effectively train and develop its
future leaders, the company’s ability to control costs, risks related to fluctuations in world currencies, weather conditions and hazards of nature that
affect consumer traffic and consumers’ purchasing patterns, and the timing and amounts of any 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 100 F Street, NE, Room 1580, 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 Internet 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 98111-2737
[phone]
[email protected]