Nordstrom 2009 Annual Report Download - page 13

Nordstrom, Inc. and subsidiaries 5
COMPETITIVE CONDITIONS
Our business is highly competitive. We compete 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 keys to competing in our industry include customer service, fashion newness, quality of product, the shopping experience, depth of
selection, store environment and location.
EMPLOYEES
During 2009, we employed approximately 48,000 employees on a full- or part-time basis. Due to the seasonal nature of our business, employment
increased to approximately 51,000 employees in July 2009 and 53,000 in December 2009. We do not have a significant number of employees who are
members of a union. We believe our relationship with our employees is good.
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, anticipated 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 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 company’s ability to safeguard its brand and reputation, effective
inventory management, efficient and proper allocation of the company’s capital resources, 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, trends in personal bankruptcies and bad debt write-offs, availability and cost of credit, impact of the current regulatory
environment and financial system reforms, changes in interest rates, disruptions in the company’s supply chain, the company’s ability to maintain its
relationship with vendors and developers who may be experiencing economic difficulties, the geographic locations of the company’s stores, the company’s
ability to maintain its relationships with its employees and to effectively train and develop its future leaders, 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 information technology strategy, successful execution of the company’s multi-channel strategy, risks related to fluctuations in
world currencies, public health concerns and the resulting impact on consumer spending patterns, supply chain, and employee health, weather conditions
and hazards of nature that affect consumer traffic and consumers’ purchasing patterns, the effectiveness of planned advertising, marketing and
promotional campaigns, and the company’s ability to control costs. These and other factors could affect our financial results and cause actual results to
differ materially from any forward-looking information we may provide. The company undertakes 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 a 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 Web site address is www.nordstrom.com. We make available free of charge on or through our Web site our annual and quarterly reports on Form
10-K and 10-Q (including related filings in XBRL format), 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 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, 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]