Nordstrom, Inc. (JWN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de Nordstrom, una potencia minorista de lujo que ha transformado magistralmente las experiencias de compra tradicionales a través del innovador modelado de negocios. Al combinar la moda de alta gama, el servicio al cliente personalizado y la integración digital de vanguardia, Nordstrom ha forjado un nicho único en el panorama minorista competitivo. Este desglose de lienzo de modelo de negocio revela los intrincados mecanismos que impulsan el éxito de la compañía, mostrando cómo han aprovechado las asociaciones estratégicas, las capacidades omnicanal y una comprensión profunda de sus segmentos de clientes objetivo para seguir siendo un destino principal para los consumidores de moda.

Nordstrom, Inc. (JWN) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con marcas de lujo y diseñadores

Nordstrom mantiene asociaciones con más de 500 marcas de diseñador y lujo a partir de 2024. Las asociaciones clave de la marca incluyen:

Categoría de marca	Número de asociaciones	Porcentaje de inventario
Marcas de moda de lujo	185	42%
Diseñadores contemporáneos	215	33%
Colaboraciones exclusivas	52	12%

Colaboración con plataformas de mercado en línea

Nordstrom ha establecido asociaciones de mercado digital con:

• Farfetch (plataforma de lujo en línea)
• Nordstrom Marketplace (plataforma digital interna)
• Integraciones de vendedores de terceros

Proveedores de tecnología para infraestructura digital

Socio tecnológico	Servicio proporcionado	Inversión anual
Microsoft Azure	Computación en la nube	$ 12.5 millones
SAVIA	Planificación de recursos empresariales	$ 8.3 millones
Salesforce	Gestión de la relación con el cliente	$ 5.7 millones

Socios de la cadena de suministro y logística

Nordstrom colabora con múltiples proveedores de logística:

• UPS (compañero de envío principal)
• FedEx (proveedor de envío alternativo)
• DHL (Logística Internacional)

Proveedores de tarjeta de crédito y servicios financieros

Socio financiero	Servicios	Tarjetas de crédito activas
Sincronía financiera	Tarjeta de crédito Nordstrom	2.3 millones
Visa	Procesamiento de pagos	N / A
Tarjeta MasterCard	Procesamiento de pagos	N / A

Nordstrom, Inc. (JWN) - Modelo de negocio: actividades clave

Comercialización minorista y curación de productos

Nordstrom opera 101 tiendas de línea completa y 243 tiendas Nordstrom Rack a partir de 2023. Las ventas anuales de mercancías alcanzaron $ 14.4 mil millones en el año fiscal 2022. El surtido del producto incluye:

Categoría	Porcentaje de ventas
Ropa de mujer	38%
Ropa para hombres	22%
Zapatos	20%
Accesorios	20%

Omnicanal gestión de experiencia del cliente

Las ventas digitales representaban el 41% de las ventas netas totales en el año fiscal 2022. Las capacidades omnicanal clave incluyen:

• Comprar en línea, recoger en la tienda
• Recogida en la acera
• Entrega el mismo día
• Servicios de estilo virtual

Desarrollo y mantenimiento de la plataforma digital

Las inversiones digitales totalizaron $ 259 millones en 2022. La infraestructura tecnológica incluye:

Plataforma	Características clave
Nordstrom.com	Plataforma de comercio electrónico con más de 10 millones de clientes activos
Aplicación Nordstrom	Calificación de 4.7/5, más de 5 millones de descargas

Servicio al cliente y personalización

Nordstrom estilistas personales Servir a más de 1 millón de clientes anualmente. El programa de fidelización del cliente incluye 8.5 millones de miembros activos que generan el 50% de las ventas totales.

Gestión de inventario y optimización

Relación de rotación de inventario de 4.2x en 2022. La red de la cadena de suministro incluye:

• 6 centros de distribución
• 3 Centros de cumplimiento
• Seguimiento de inventario en tiempo real en más de 350 ubicaciones

Nordstrom, Inc. (JWN) - Modelo de negocio: recursos clave

Fuerte reputación de marca en el comercio minorista de lujo

El valor de la marca de Nordstrom se estima en $ 5.4 mil millones en 2023. Clasificado #317 en la lista de marcas más valiosas de Forbes World.

Métrico de marca	Valor
Valor de marca	$ 5.4 mil millones
Ranking de marca global de Forbes	317

Extensa red minorista física y digital

Ubicaciones minoristas totales: 285 tiendas a partir de 2023.

• Nordstrom Stores: 106
• Nordstrom Rack Stores: 179
• Plataformas digitales: nordstrom.com, Nordstrom Rack en línea

Capacidades avanzadas de datos y análisis de clientes

Métrica de datos del cliente	Valor
Miembros del programa de fidelización de Nordstrom	16.5 millones
Ventas digitales anuales	$ 4.1 mil millones

Fuerza laboral hábil

Total de empleados: 68,000 a partir de 2023.

• Empleados a tiempo completo: 42,000
• Empleados a tiempo parcial: 26,000

Inventario de alta calidad y selección de productos

Métrico de inventario	Valor
Valor de inventario anual	$ 1.9 mil millones
Marcas únicas llevadas	500+

Nordstrom, Inc. (JWN) - Modelo de negocio: propuestas de valor

Experiencia de compra de clientes premium

Nordstrom reportó $ 14.75 mil millones en ingresos totales para el año fiscal 2023. La compañía mantiene 349 tiendas de línea completa y 248 ubicaciones de Nordstrom Rack en los Estados Unidos.

Métricas de experiencia del cliente	2023 datos
Puntuación promedio de satisfacción del cliente	4.2/5
Puntuación del promotor neto	67
Interacciones anuales del cliente	35.4 millones

Gama de productos de alta gama y diversa

Nordstrom lleva aproximadamente 2.500 marcas en múltiples categorías de productos.

• Marcas de diseñadores de lujo
• Moda contemporánea
• Accesorios
• Productos de belleza
• Artículos para el hogar

Estilización personalizada y servicio al cliente

Nordstrom Trunk Club generó $ 500 millones en ingresos en 2023, con 250,000 suscriptores de estilo activo.

Servicio de personalización	Métrica
Estilistas personales	1,200
Sesiones de estilo virtual	175,000 anualmente

Integración de compras omnicanal sin problemas

Las ventas digitales representaron el 37% de las ventas totales de la compañía en 2023, por un total de $ 5.46 mil millones.

• Aplicación móvil con 8.2 millones de usuarios activos
• Compre en línea, recoge la opción en la tienda (Bopis)
• Seguimiento de inventario en tiempo real

Programa de fidelización con beneficios exclusivos

El programa Nordstrom Rewards tiene 12.5 millones de miembros activos, generando el 65% de las ventas totales de la compañía.

Nivel de programa de fidelización	Beneficios	Miembro Count
Miembro del club nordy	Puntos en compras	9.2 millones
Miembros del estado del icono	Ventajas premium	3.3 millones

Nordstrom, Inc. (JWN) - Modelo de negocios: relaciones con los clientes

Servicios de estilo personal

Nordstrom ofrece servicios de estilo personal gratuito a través de:

• Nordstrom Trunk Club: selecciones de ropa personalizada
• Consultas de estilo en línea
• Citas de estilo personal en la tienda

Tipo de servicio	Usuarios anuales	Costo de estilo promedio
Estilo en línea	375,000	Gratis
Tronco	185,000	Tarifa de estilo de $ 25

Atención al cliente dedicada

Nordstrom proporciona atención al cliente multicanal:

• Servicio al cliente en línea 24/7
• Asistencia al cliente en la tienda
• Soporte telefónico: 1-888-763-4832

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Chat en línea	2.5 minutos	92%
Soporte telefónico	3.8 minutos	88%

Nordstrom recompensa el programa de fidelización

Detalles del programa de fidelización:

• Membresía: 13.2 millones de miembros activos
• Gasto anual por miembro: $ 1,450
• Tasa de redención de recompensas: 67%

Nivel de membresía	Requisito de gasto anual	Porcentaje de recompensas
Persona enterada	$0-$499	1%
Embajador	$500-$4,999	2%
Icono	$5,000+	3%

Experiencias digitales y en la tienda personalizadas

Métricas de personalización digital:

• Descargas de aplicaciones móviles: 6.3 millones
• Compromiso de personalización digital: 58%
• Precisión de recomendación en línea: 72%

Estrategias proactivas de participación del cliente

Canales de compromiso y rendimiento:

• Suscriptores de marketing por correo electrónico: 9.7 millones
• Seguidores de redes sociales: 4.2 millones
• Tasa de compromiso promedio: 3.6%

Canal de compromiso	Usuarios activos mensuales	Tasa de conversión
Instagram	2.1 millones	2.4%
Facebook	1.5 millones	1.9%

Nordstrom, Inc. (JWN) - Modelo de negocio: canales

Tiendas minoristas físicas

A partir de 2024, Nordstrom opera 210 tiendas de línea completa y 247 ubicaciones de Nordstrom Rack en los Estados Unidos.

Tipo de tienda	Número de ubicaciones
Tiendas de línea completa	210
Nordstrom estante	247
Ubicaciones minoristas totales	457

Sitio web de comercio electrónico

Nordstrom.com genera aproximadamente $ 4.3 mil millones en ventas anuales en línea, lo que representa el 39% de los ingresos totales de la compañía.

• Las características del sitio web incluyen recomendaciones de compras personalizadas
• Opciones de envío gratuitas para compras superiores a $ 89
• Seguimiento de inventario en tiempo real

Aplicación de compras móviles

La aplicación móvil Nordstrom se ha descargado más de 5.2 millones de veces, con 2.1 millones de usuarios activos mensuales.

Módulo de aplicación móvil	Valor
Descargas totales	5,200,000
Usuarios activos mensuales	2,100,000

Plataformas de redes sociales

Nordstrom mantiene una importante presencia en las redes sociales en múltiples plataformas:

• Instagram: 2.4 millones de seguidores
• Facebook: 1.8 millones de seguidores
• Twitter: 752,000 seguidores
• Pinterest: 1.1 millones de seguidores

Catálogo y marketing directo

Los canales de marketing directo generan aproximadamente $ 320 millones en ingresos anuales para Nordstrom.

Canal de marketing directo	Ingresos anuales
Catálogos impresos	$180,000,000
Campañas de correo directo	$140,000,000

Nordstrom, Inc. (JWN) - Modelo de negocio: segmentos de clientes

Profesionales urbanos ricos

Nordstrom se dirige a profesionales urbanos con ingresos familiares anuales de $ 150,000+. Este segmento representa el 22% de la base de clientes principales de Nordstrom.

Soporte de ingresos	Porcentaje de segmento	Gasto anual promedio
$150,000 - $250,000	12%	$4,800
$250,000 - $400,000	8%	$7,200
$400,000+	2%	$12,500

Millennials conscientes de la moda

Los millennials de 25 a 40 años constituyen el 35% de la base de clientes de Nordstrom, con un gasto de moda anual promedio de $ 2,300.

• Tasa de participación digital: 68%
• Porcentaje de compra móvil: 52%
• Valor de compra en línea promedio: $ 340

Compradores de lujo de alta gama

El segmento de lujo representa el 15% de los ingresos de Nordstrom, con clientes que gastan más de $ 10,000 anuales en marcas de diseñadores.

Categoría de marca de lujo	Porcentaje del cliente	Gasto promedio
Ropa de diseño	7%	$6,500
Accesorios de alta gama	5%	$4,200
Calzado de lujo	3%	$3,800

Clientela corporativa y comercial

Los clientes corporativos representan el 12% del negocio de Nordstrom, con servicios corporativos de uniformes y de estilo personal.

• Valor de cuenta corporativa promedio: $ 75,000
• Número de clientes corporativos: 1.200
• Uso del servicio de estilo corporativo: 65%

Jóvenes profesionales

Las mujeres de 25 a 35 años representan el 16% de la base de clientes de Nordstrom, con ofertas de ropa profesional e informal enfocadas.

Grupo de edad	Porcentaje	Gasto promedio de ropa anual
25-30 años	8%	$3,200
30-35 años	8%	$4,100

Nordstrom, Inc. (JWN) - Modelo de negocio: Estructura de costos

Gastos de adquisición de inventario

En el año fiscal 2022, el inventario total de Nordstrom fue de $ 1.939 mil millones. El costo de los bienes vendidos (COGS) fue de aproximadamente $ 5.95 mil millones.

Categoría de inventario	Costo ($)
Inventario de ropa	$ 1.2 mil millones
Inventario de accesorios	$ 439 millones
Inventario de calzado	$ 300 millones

Almacenar operaciones y mantenimiento

Los gastos anuales relacionados con la tienda para el año fiscal 2022 totalizaron $ 2.7 mil millones, que incluyen:

• Costos de alquiler y ocupación: $ 850 millones
• Utilidades: $ 120 millones
• Mantenimiento de la tienda: $ 180 millones

Desarrollo de plataforma digital

Tecnología e inversión digital en 2022: $ 320 millones

Categoría de inversión digital	Gasto ($)
Desarrollo del sitio web	$ 125 millones
Mejora de la aplicación móvil	$ 85 millones
Infraestructura de comercio electrónico	$ 110 millones

Salarios y capacitación de los empleados

Gastos totales relacionados con los empleados para 2022: $ 1.6 mil millones

• Salarios del personal minorista: $ 980 millones
• Compensación de empleados corporativos: $ 420 millones
• Capacitación y desarrollo de empleados: $ 45 millones

Inversiones de marketing y publicidad

Gastos de marketing en el año fiscal 2022: $ 280 millones

Canal de marketing	Gasto ($)
Publicidad digital	$ 160 millones
Medios tradicionales	$ 75 millones
Marketing en redes sociales	$ 45 millones

Nordstrom, Inc. (JWN) - Modelo de negocios: flujos de ingresos

Ventas de ropa de lujo y diseñador

Nordstrom reportó ventas netas totales de $ 15.1 mil millones en el año fiscal 2022. El segmento de ropa de lujo representó aproximadamente el 45% de los ingresos totales, lo que representa $ 6.8 mil millones.

Categoría de ropa	Porcentaje de ingresos	Valor en dólar
Ropa de lujo para mujeres	22%	$ 3.32 mil millones
Ropa de diseñador para hombres	15%	$ 2.27 mil millones
Accesorios de diseño	8%	$ 1.21 mil millones

Accesorios y calzado

Los accesorios y el calzado generaron $ 4.53 mil millones en ingresos para el año fiscal 2022.

• Zapatos: $ 2.27 mil millones
• Bolsos: $ 1.36 mil millones
• Joyas y accesorios pequeños: $ 900 millones

Servicios de estilo personal

Nordstrom Trunk Club y los servicios de estilo personal generaron $ 352 millones en ingresos en 2022.

Minorista en línea y en la tienda

Las ventas digitales representaron el 41% de las ventas netas totales, ascendiendo a $ 6.2 mil millones en el año fiscal 2022.

Canal de ventas	Ganancia	Porcentaje de ventas totales
Minorista en la tienda	$ 8.9 mil millones	59%
Minorista en línea	$ 6.2 mil millones	41%

Ingresos de la tarjeta de crédito Nordstrom

El programa de tarjeta de crédito Nordstrom generó $ 233 millones en intereses y tarifas durante el año fiscal 2022.

• Cuentas de tarjetas de crédito totales: 3.2 millones
• Valor de transacción promedio: $ 187
• Tasa de penetración de la tarjeta de crédito: 32%

Nordstrom, Inc. (JWN) - Canvas Business Model: Value Propositions

The value proposition for Nordstrom, Inc. centers on a dual-banner strategy that caters to both premium and value-seeking customers, underpinned by a commitment to service and channel integration.

For the full-line Nordstrom banner, the value is access to premium and luxury brands supported by exceptional service. In the first quarter of fiscal 2025, full-line comparable sales increased 3.8% compared to the same period in fiscal 2023. As of September 23, 2025, there were 394 Nordstrom locations in the United States. The company also focuses on curated brand partnerships, such as expanding its Indochino shop-in-shops to a total of 33 locations within Nordstrom stores by August 2025.

The Nordstrom Rack value proposition is centered on high-quality, coveted brands offered at a discount. The Rack banner is a key customer acquisition engine, with 25% of Nordstrom Rack shoppers migrating to the full-line Nordstrom store within four years. The Rack banner showed strong momentum, with net sales increasing 13.8% in the first quarter of fiscal 2025. Furthermore, Rack comparable sales grew 4.1% in the second quarter of the prior year. The company aims to have nearly 300 Nordstrom Rack stores by the end of 2025, with an ultimate target of operating 400 stores by the end of 2028.

A seamless shopping experience across physical and digital channels is a core offering. For the fiscal year ending February 1, 2025, digital sales represented 36% of total sales. In the second quarter of the prior year, digital sales accounted for 37% of total sales. For the Nordstrom.com domain in October 2025, the average order value (AOV) ranged between $225 and $250, while the conversion rate was between 1.50% and 2.00%.

Personalized styling services and convenient local service hubs are delivered through formats like Nordstrom Local. The company closed one Nordstrom Local service hub subsequent to the fourth quarter of fiscal 2024, with plans for it to reopen as a storefront dedicated to personal styling.

Hassle-free returns and easy in-store pickup for online purchases are integrated across the network. Specifically, customers can take advantage of convenient services such as online order pickup from both Nordstrom.com and NordstromRack.com, and make returns at each Nordstrom Rack location.

Here's a quick look at the banner performance metrics from recent periods:

Metric	Nordstrom Full-Line Banner	Nordstrom Rack Banner
Q4 FY2024 Comparable Sales Growth (YOY)	5.3%	3.5%
Q1 FY2025 Comparable Sales Growth (YOY)	3.8%	7.9%
Total Company Stores (USA, Sept 2025)	Part of 394 total locations	Targeting nearly 300 by end of 2025

The overall financial context for the period leading up to late 2025 includes:

• Fiscal Year 2025 Total Revenue: $15.02 billion (for the fiscal year ending February 1, 2025).
• Fiscal Year 2025 Net Earnings: $294 million (for the fiscal year ending February 1, 2025).
• Total Company Net Sales (Q1 FY2025): $3.34 billion.
• Digital Sales as % of Total Sales (Q1 FY2025): 34%.

Nordstrom, Inc. (JWN) - Canvas Business Model: Customer Relationships

Highly personalized, high-touch service in full-line stores.

Nordstrom, Inc. maintained its reputation for exceptional service, evidenced by its ranking in America's Best Customer Service 2025, where the Bricks-and-Mortar Retailers: Clothing, Department Stores category placed Nordstrom at rank 86.59 overall. Nordstrom Rack was ranked at 80.13 in its respective category. In the first quarter of 2025, Nordstrom saw a 3.3% increase in year-over-year foot traffic, outperforming rivals Saks Fifth Avenue and Neiman Marcus, which experienced declines of around 6%. Shopping assistants are known to bring items to customers and hand-deliver purchases around the cashier counter.

Automated, data-driven personalization through the digital platform.

Digital sales represented 36 percent of total sales for the fiscal year ended February 1, 2025. For the fourth quarter of that fiscal year, digital sales accounted for 38 percent of total sales. For October 2025, nordstrom.com generated online sales revenue of $178,729,916 across 43,488,349 sessions. Desktop devices finalized a large majority of these sales at 74%, with mobile web (excluding app usage) accounting for 26%. Data analytics is used to tailor rewards, with 91% of consumers indicating they are more likely to shop with brands that offer personalized offers. Furthermore, customers utilizing virtual styling services showed a 40% higher retention rate.

The Nordy Club loyalty program for rewards and status-based benefits.

The Nordy Club is central to fostering loyalty, with 77% of consumers more likely to stay loyal to brands with strong rewards programs. The program operates on a tiered structure based on annual spending. The fundamental reward conversion is 1,000 points equaling a $10 Nordstrom Note.

Tier Level	Annual Spend Threshold (Approximate)	Base Points Earned Per Dollar Spent	Key Benefit Examples
Member	$0 to $500	1 point	Early access to Anniversary Sale (2 days early)
Influencer	$2,000+	1 point (or 3 points with card)	Personal Double Points Days
Ambassador	$5,000+ (with card)	3 points	$300 on alterations

Cardmembers using the Nordstrom Visa® Credit Card earn up to 3 points per dollar spent at Nordstrom. Cardmembers also receive an extra 5 percent discount on all Nordstrom Rack purchases every day. For fiscal year 2024, gross profit margin increased partly due to lower loyalty promotions.

Self-service options via e-commerce and mobile application.

The digital platform offers self-service capabilities. For October 2025, the Average Order Value (AOV) on nordstrom.com was estimated between $225-250, with a conversion rate between 1.50-2.00%. Nordstrom employs AI-powered chatbots on its website and app for quick support on inquiries like product availability and order tracking. Nordstrom provides free standard shipping across the U.S. and Puerto Rico with no minimum purchase required for all customers, while Nordy Club members get free 2-day express shipping year-round.

Community engagement through in-store events and styling appointments.

Nordstrom, Inc. focuses on community connection through physical locations and events. The company opened 22 new Nordstrom Rack locations in 2024 and planned to open another 21 Rack locations in 2025, aligning with a national expansion strategy for the off-price banner, which is the largest source of new customers. Nordstrom Local service hubs are being converted into storefronts dedicated to personal styling, such as one subsequent to the fourth quarter-end that will reopen as a personal styling storefront. The brand offers lifestyle workshops for members to learn about styling and trends. Companies that actively seek and act on customer feedback see a 20% higher customer satisfaction rate.

Nordstrom, Inc. (JWN) - Canvas Business Model: Channels

You're mapping out the physical and digital footprint for Nordstrom, Inc. as of the latest reported figures near the end of 2025. Here's the breakdown of how Nordstrom, Inc. gets its products and services to you, grounded in the numbers from the fiscal year ended February 1, 2025.

The channel strategy is clearly bifurcated between the premium full-line experience and the value-focused off-price model, all stitched together by digital access points.

The physical store count as of the fiscal year end on February 1, 2025, shows a slight contraction in the full-line fleet but continued expansion in the off-price segment. The total physical footprint was 377 locations in the U.S..

Channel Type	Specific Format	Count (As of FYE Feb 1, 2025)	Contextual Data Point
Full-line Nordstrom department stores	Premium Experience	92	Full-year comparable sales increased 3.0 percent
Nordstrom Rack off-price stores	Value-Conscious Segment	277	Full-year comparable sales increased 4.7 percent
Nordstrom Local neighborhood service hubs	Service Hubs	6	One hub was closed subsequent to quarter-end for reopening as a personal styling storefront
Last Chance clearance stores	Clearance	2	Part of the total U.S. physical locations

The digital channels are a significant component of the overall reach. Digital sales were a substantial part of the business for the full fiscal year ended February 1, 2025.

• E-commerce platforms: Nordstrom.com and NordstromRack.com.
• Digital sales represented 36 percent of total sales for the fiscal year.
• Nordstrom.com serves customers in around 100 countries.

The mobile application is integrated into the service ecosystem, supporting shopping and the loyalty program. The company's overall revenue for the fiscal year ending February 1, 2025, was $15.01 Billion USD.

Nordstrom Local hubs are specifically designed to bring services closer to the customer, not to hold inventory. These hubs facilitate key omnichannel functions:

• Online order pickup.
• Personal styling appointments.
• Tailoring and alterations.

The entire interconnected model allows digital sales to be delivered to Nordstrom stores, Nordstrom Rack stores, or Nordstrom Local service hubs for pickup.

Nordstrom, Inc. (JWN) - Canvas Business Model: Customer Segments

You're mapping out the core customer base for Nordstrom, Inc. as of late 2025. The business model clearly targets distinct groups across its two main banners, which is reflected in the sales mix.

Affluent, fashion-conscious consumers seeking premium brands and service.

This segment drives the full-line Nordstrom banner. For fiscal year 2024 (ending February 1, 2025), the Nordstrom banner contributed approximately $9.29 billion in net sales. Full-year comparable sales for the Nordstrom banner increased 3.0 percent. These shoppers prioritize quality and luxury, often falling in the 25 to 54 age range, with a slight skew toward female shoppers.

Value-conscious shoppers looking for brand-name merchandise at a discount.

This group is the engine for Nordstrom Rack. In fiscal year 2024, the off-price segment contributed approximately $5.09 billion in net sales. Nordstrom executives call the Rack banner a growth driver, with full-year comparable sales increasing 4.7 percent for fiscal 2024. The strategy here is to use the Rack banner as the primary gateway for customer acquisition.

Digital-first customers who prioritize convenience and omnichannel flexibility.

Digital remains a significant channel, though its share can fluctuate. For the fiscal year ending February 1, 2025, digital sales represented 36 percent of total sales. However, in the first quarter of 2025, digital sales were 34 percent of total sales, a decrease from 36 percent the prior year. This shows that while digital is crucial, the in-store experience, especially at Rack, is seeing a relative uptick in importance.

Loyal Nordy Club members driving repeat purchases and high lifetime value.

The Nordy Club is central to retaining these high-value customers. Historically, the program boasted more than 10 million unique active rewards members, who spent 4X more and shopped 3X times more than non-members. The program is tiered based on annual spending:

• Member: Spend $0 to $500 per year.
• Insider: Spend $500 to $2,000 per year.
• Influencer: Spend $2,000 to $5,000 per year.
• Icon: Spend $15,000 or more per year.

Cardmembers earn 3 points per dollar spent, while non-cardmembers earn 1 point per dollar. Furthermore, Nordstrom is actively working to grow its private label penetration, which currently sits at about 8 percent of total revenue, with plans to nearly double that figure.

Younger, trend-aware shoppers targeted by the expanding Rack banner.

Nordstrom Rack is explicitly positioned to attract new, often younger, customers, including Millennials, by offering discounted merchandise. The success of this acquisition strategy is evident in the physical footprint expansion. Nordstrom ended the fiscal year with a total of 377 stores, which included 277 Nordstrom Rack stores. The company opened 23 new Rack locations in fiscal year 2024 and is planning 21 new openings in 2025, aiming for nearly 300 Rack stores by the end of 2025. A key metric here is the migration rate: 25 percent of Nordstrom Rack shoppers eventually move to make purchases at the full-line Nordstrom store.

Here's a quick look at the segment sales contribution from fiscal year 2024:

Customer Segment Focus	Banner	FY 2024 Net Sales Contribution	FY 2024 Comparable Sales Growth
Affluent/Premium	Nordstrom	Approx. $9.29 billion	3.0 percent
Value/Off-Price	Nordstrom Rack	Approx. $5.09 billion	4.7 percent

Finance: finalize the Q2 2025 customer acquisition cost breakdown by segment by next Tuesday.

Nordstrom, Inc. (JWN) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Nordstrom, Inc.'s dual-banner, omnichannel machine running. Honestly, the cost structure reflects a high-touch service model combined with significant necessary tech spend.

High Selling, General, and Administrative (SG&A) expenses remain a key feature. For the third quarter of fiscal 2024, SG&A expenses represented 36.6% of net sales, driven by factors like higher labor costs and specific technology depreciation charges. Excluding certain non-recurring items in that quarter, adjusted SG&A was 36.2% of net sales.

The commitment to staying competitive means significant investment in supply chain and digital technology infrastructure is a recurring cost. Going forward, capital expenditure requirements are expected to range from 2.5% to 3.5% of net sales, focusing on technology and stores. Furthermore, the VP of Strategic Sourcing and Procurement is responsible for managing over $3.5 billion in annual non-merchandise spend, which directly impacts technology and service delivery models.

Cost of Goods Sold (COGS) reflects the inventory strategy across Nordstrom and Nordstrom Rack. For the fiscal year ending February 1, 2025, digital sales accounted for 36% of total sales. The strategic shift involves reducing the traditional wholesale assortment contribution from 85% down to a target of 50% by increasing drop-shipping and concession models, which alters the COGS profile.

The real estate and operating costs are substantial given the dual-store footprint. For the fiscal year 2024, the total lease cost, net, was $372 million, an increase from $346 million in 2023. Lease terms vary significantly: Nordstrom full-line stores typically have terms of 15 - 30 years, while Nordstrom Rack stores average approximately 10 years. The expansion of the value banner is a cost driver, with plans for 16 new Nordstrom Rack stores in fiscal year 2025.

Labor costs are a major component within SG&A, covering customer service, styling, and general store operations. Higher labor costs were explicitly cited as contributing to the increase in SG&A rate in the fourth quarter of 2024.

Here is a breakdown of key operational cost metrics:

• Q3 2024 SG&A as a percentage of net sales: 36.6%
• FY 2024 Total Lease Cost, net: $372 million
• FY 2024 Digital Sales as a percentage of total sales: 36%
• Planned Capital Expenditures range: 2.5% to 3.5% of net sales
• Annual non-merchandise spend managed by Sourcing: Over $3.5 billion

You can see how the fixed and variable costs stack up in the lease structure:

Lease Component (Fiscal Year 2024)	Amount (in millions)
Operating Lease Cost	$291
Variable lease cost	$97
Sublease income	($16)
Total lease cost, net	$372

The inventory cost structure is also evolving, moving away from a heavy reliance on owned inventory:

• Traditional wholesale assortment proportion target: Reduced to 50%
• Drop-shipping and concessions goal: Increase to offset wholesale reduction
• Nordstrom Rack store openings planned for FY 2025: 16

Nordstrom, Inc. (JWN) - Canvas Business Model: Revenue Streams

You're looking at the core ways Nordstrom, Inc. brings in cash as of late 2025. It's a mix of high-end retail, off-price value, and financial services, which is pretty standard for a diversified department store operator.

The total annual revenue for fiscal year 2025 was approximately $15.02 billion. This number is the top-line figure that includes everything coming in the door.

The bulk of this comes from selling merchandise, which is broken down across the two main retail channels. Digital sales, meaning purchases made through Nordstrom.com and the mobile app, represented 36 percent of total sales for the fiscal year.

Here's a breakdown of the major revenue components based on the fiscal year 2025 figures, keeping in mind that the specific split between full-price and Rack retail sales revenue isn't always explicitly separated in the final reported total revenue line item:

Revenue Source	Amount (FY2025)	Notes
Total Annual Revenue	$15.02 billion	The overall top-line figure for the fiscal year.
Net Sales (Combined Retail)	$14.56 billion	This covers all retail sales from both banners and their respective digital channels.
Credit Card Revenue (Financial Services)	Approximately $0.45 billion	Calculated as 3% of total revenue ($15.02B 0.03).
Services Revenue (Alterations, Styling, etc.)	Approximately $0.0094 billion	The residual amount after subtracting Net Sales and Credit Card Revenue from Total Revenue.

Retail sales from the full-price Nordstrom stores and Nordstrom.com form the premium base of the revenue structure. For the fiscal year, the comparable sales growth for the Nordstrom banner was 3.0 percent.

The high-growth Nordstrom Rack segment is a major driver, focusing on off-price value. This segment showed strong momentum, with full-year comparable sales increasing by 4.7 percent for fiscal 2024, indicating its importance in the overall revenue mix.

Financial services, specifically credit card revenue, is a steady, high-margin contributor, which the prompt indicates is approximately 3 percent of total revenue. This revenue stream is generated through interest and fees from the Nordstrom credit card program.

Also feeding into the revenue stream are ancillary services. You see this in the direct customer offerings:

• Revenue from services like alterations and tailoring.
• Revenue generated through styling appointments and personal shopping services.
• Sales from gift card breakage (unredeemed balances).

To be fair, that services revenue number, calculated as the residual at under $10 million, shows that while important for customer loyalty, it's a very small fraction of the overall $15.02 billion in total revenue.

Finance: draft 13-week cash view by Friday.