Nordstrom 2010 Annual Report Download - page 6

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As Blake, Pete and Erik shared, 2010 was a record year on many levels. During the year, Nordstrom delivered
some truly impressive results and made significant strides in its ability to take care of the customer.
Our business continues to grow with our focus squarely on serving more people, in more places and
in more ways. This includes building on the company’s success as a leading multi-channel retailer by
adding new capabilities and better functionality to respond to the different ways customers are choosing
to shop. Additionally, the recent acquisition of HauteLook, Inc. gives Nordstrom a solid foothold in the
fast-growing private sale marketplace, while also providing a platform for innovation and growth online.
At the same time, we continue to look for opportunities to open more stores in top markets, both within
the U.S. and with an eye toward Canada. We believe that with sound investments in technology, online,
ecommerce and new stores, Nordstrom will be better able to improve service, increase market share
and create shareholder value.
Since its founding, Nordstrom leaders and employees have always held themselves to the highest
ethical standards in every aspect of our business. This unyielding commitment to doing the right thing
has served our customers and shareholders well over the years and it is our top consideration as we
develop strategy and execute day-to-day management of the business. We have great respect for the
company’s legacy and, together with the management team, our board is committed to upholding this
tradition of integrity and trust going forward.
An example of this commitment is our efforts to gain fresh perspectives and strengthen governance.
In 2010 we were pleased to welcome two new members to our board of directors, Kevin Turner and
Felicia Thornton. Kevin serves as Microsoft’s chief operating officer and Felicia is the U.S. chief
executive officer of Knowledge Universe, a global education company. This May we look forward to the
addition of Michelle Ebanks to our board. Michelle is president of Essence Communications, Inc., the
leading media and communications company dedicated to African-American women. Kevin, Felicia and
Michelle’s combined background in retail, technology, strategy, marketing, communications and finance
will further enrich an already strong board.
Looking ahead, we are excited about the opportunities in front of us. Even with the success the company
has earned, we believe the best is yet to come for Nordstrom. Our board is confident in the team and
we wholeheartedly stand behind the company’s strategy, discipline and ongoing dedication to service.
On behalf of the entire Board of Directors, thank you for your support.
Enrique Hernandez, Jr.
Chairman
A note from our chairman.