Nordstrom, Inc. (JWN): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le plan stratégique de Nordstrom, une puissance de vente au détail de luxe qui a magistralement transformé les expériences d'achat traditionnelles grâce à une modélisation commerciale innovante. En mélangeant la mode haut de gamme, le service client personnalisé et l'intégration numérique de pointe, Nordstrom a sculpté un créneau unique dans le paysage de la vente au détail compétitif. Cette panne de canevas sur le modèle commercial révèle les mécanismes complexes qui stimulent le succès de l'entreprise, montrant comment ils ont exploité des partenariats stratégiques, des capacités omnicanal et une compréhension approfondie de leurs segments de clientèle cibles pour rester une destination de premier plan pour les consommateurs de la mode.

Nordstrom, Inc. (JWN) - Modèle commercial: partenariats clés

Partenariats stratégiques avec des marques de luxe et de créateurs

Nordstrom maintient des partenariats avec plus de 500 marques de créateurs et de luxe à partir de 2024. Les partenariats de marque clés comprennent:

Catégorie de marque	Nombre de partenariats	Pourcentage d'inventaire
Marques de mode de luxe	185	42%
Designers contemporains	215	33%
Collaborations exclusives	52	12%

Collaboration avec les plateformes de marché en ligne

Nordstrom a établi des partenariats sur le marché numérique avec:

• Farfetch (plate-forme de luxe en ligne)
• Nordstrom Marketplace (plate-forme numérique interne)
• Intégrations de vendeurs tiers

Vendeurs technologiques pour l'infrastructure numérique

Partenaire technologique	Service fourni	Investissement annuel
Microsoft Azure	Cloud computing	12,5 millions de dollars
SÈVE	Planification des ressources d'entreprise	8,3 millions de dollars
Salesforce	Gestion de la relation client	5,7 millions de dollars

Partners de la chaîne d'approvisionnement et de la logistique

Nordstrom collabore avec plusieurs fournisseurs de logistique:

• UPS (partenaire d'expédition primaire)
• FedEx (fournisseur d'expédition alternatif)
• DHL (logistique internationale)

Cartes de crédit et fournisseurs de services financiers

Partenaire financier	Services	Cartes de crédit actives
Synchrony Financial	Carte de crédit Nordstrom	2,3 millions
Visa	Traitement des paiements	N / A
MasterCard	Traitement des paiements	N / A

Nordstrom, Inc. (JWN) - Modèle d'entreprise: Activités clés

Merchandising au détail et conservation des produits

Nordstrom exploite 101 magasins en ligne et 243 magasins Nordstrom Rack à partir de 2023. Les ventes annuelles de marchandises ont atteint 14,4 milliards de dollars au cours de l'exercice 2022.

Catégorie	Pourcentage de ventes
Vêtements pour femmes	38%
Vêtements pour hommes	22%
Chaussures	20%
Accessoires	20%

Gestion de l'expérience client omnicanal

Les ventes numériques représentaient 41% du total des ventes nettes au cours de l'exercice 2022. Les capacités clés de l'omnicanal comprennent:

• Acheter en ligne, ramasser en magasin
• Ramassage en bordure de rue
• Livraison le jour
• Services de style virtuel

Développement et maintenance de plate-forme numérique

Les investissements numériques ont totalisé 259 millions de dollars en 2022. L'infrastructure technologique comprend:

Plate-forme	Caractéristiques clés
Nordstrom.com	Plateforme de commerce électronique avec plus de 10 millions de clients actifs
Application Nordstrom	4,7 / 5 cote, 5 millions + téléchargements

Service client et personnalisation

Stylistes personnels de Nordstrom Servir plus d'un million de clients par an. Le programme de fidélisation de la clientèle comprend 8,5 millions de membres actifs générant 50% du total des ventes.

Gestion et optimisation des stocks

Ratio de roulement des stocks de 4,2x en 2022. Le réseau de chaîne d'approvisionnement comprend:

• 6 centres de distribution
• 3 centres d'exécution
• Suivi des stocks en temps réel sur plus de 350 emplacements

Nordstrom, Inc. (JWN) - Modèle d'entreprise: Ressources clés

Solide réputation de la marque dans la vente au détail de luxe

La valeur de la marque de Nordstrom est estimée à 5,4 milliards de dollars en 2023. Classé n ° 317 dans la liste des marques les plus précieuses de Forbes World.

Métrique de la marque	Valeur
Valeur de marque	5,4 milliards de dollars
Classement de la marque Global Forbes	317

Réseau de vente au détail physique et numérique

Total des lieux de vente au détail: 285 magasins à partir de 2023.

• Magasins de Nordstrom: 106
• Nordstrom Rack Stores: 179
• Plateformes numériques: Nordstrom.com, Nordstrom Rack en ligne

Capacités avancées des données client et analytiques

Métrique des données client	Valeur
Membres du programme de fidélité Nordstrom	16,5 millions
Ventes numériques annuelles	4,1 milliards de dollars

Main-d'œuvre qualifiée

Total des employés: 68 000 en 2023.

• Employés à temps plein: 42 000
• Employés à temps partiel: 26 000

Inventaire de haute qualité et sélection de produits

Métrique des stocks	Valeur
Valeur d'inventaire annuelle	1,9 milliard de dollars
Marques uniques transportées	500+

Nordstrom, Inc. (JWN) - Modèle d'entreprise: propositions de valeur

Expérience d'achat client premium

Nordstrom a déclaré 14,75 milliards de dollars de revenus totaux pour l'exercice 2023. La société conserve 349 magasins pleine ligne et 248 emplacements Nordstrom Rack aux États-Unis.

Métriques de l'expérience client	2023 données
Score moyen de satisfaction du client	4.2/5
Score de promoteur net	67
Interactions annuelles du client	35,4 millions

Gamme de produits haut de gamme et diversifiée

Nordstrom transporte environ 2 500 marques dans plusieurs catégories de produits.

• Marques de créateurs de luxe
• Mode contemporain
• Accessoires
• Produits de beauté
• Marchandises à domicile

Style personnalisé et service client

Nordstrom Trunk Club a généré 500 millions de dollars de revenus en 2023, avec 250 000 abonnés de style actif.

Service de personnalisation	Métrique
Stylistes personnels	1,200
Séances de style virtuel	175 000 par an

Intégration d'achat omnicanal sans couture

Les ventes numériques représentaient 37% du total des ventes d'entreprises en 2023, totalisant 5,46 milliards de dollars.

• Application mobile avec 8,2 millions d'utilisateurs actifs
• Achetez en ligne, prenez l'option en magasin (BOPIS)
• Suivi des stocks en temps réel

Programme de fidélité avec des avantages exclusifs

Le programme Nordstrom Rewards compte 12,5 millions de membres actifs, générant 65% du total des ventes d'entreprises.

Tier du programme de fidélité	Avantages	Couper les membres
Membre du club de nordy	Points sur les achats	9,2 millions
Membres du statut d'icône	Avantages premium	3,3 millions

Nordstrom, Inc. (JWN) - Modèle d'entreprise: relations avec les clients

Services de style personnel

Nordstrom propose des services de style personnel complémentaires à travers:

• Nordstrom Trunk Club: Sélections de vêtements personnalisés
• Consultations de style en ligne
• Rendez-vous de style personnel en magasin

Type de service	Utilisateurs annuels	Coût de style moyen
Style en ligne	375,000	Gratuit
Coque	185,000	Frais de style de 25 $

Support client dédié

Nordstrom fournit un support client multicanal:

• Service client en ligne 24/7
• Assistance client en magasin
• Prise en charge du téléphone: 1-888-763-4832

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Chat en ligne	2,5 minutes	92%
Support téléphonique	3,8 minutes	88%

Nordstrom Rewards Programme de fidélité

Détails du programme de fidélité:

• Adhésion: 13,2 millions de membres actifs
• Dépenses annuelles par membre: 1 450 $
• Taux de rachat de récompense: 67%

Niveau d'adhésion	Exigence de dépenses annuelle	Pourcentage de récompenses
Initié	$0-$499	1%
Ambassadeur	$500-$4,999	2%
Icône	$5,000+	3%

Expériences numériques et en magasin personnalisées

Métriques de personnalisation numérique:

• Téléchargements d'applications mobiles: 6,3 millions
• Engagement de personnalisation numérique: 58%
• Précision de recommandation en ligne: 72%

Stratégies de l'engagement client proactif

Canaux de fiançailles et performances:

• Abonders du marketing par e-mail: 9,7 millions
• Abonnés des médias sociaux: 4,2 millions
• Taux d'engagement moyen: 3,6%

Canal de fiançailles	Utilisateurs actifs mensuels	Taux de conversion
Instagram	2,1 millions	2.4%
Facebook	1,5 million	1.9%

Nordstrom, Inc. (JWN) - Modèle d'entreprise: canaux

Magasins de vente au détail physique

En 2024, Nordstrom exploite 210 magasins en ligne et 247 emplacements Nordstrom Rack aux États-Unis.

Type de magasin	Nombre d'emplacements
Magasins en ligne	210
Rack de nordstrom	247
Total des lieux de vente au détail	457

Site Web de commerce électronique

Nordstrom.com génère environ 4,3 milliards de dollars de ventes en ligne annuelles, ce qui représente 39% du total des revenus de l'entreprise.

• Les fonctionnalités du site Web comprennent des recommandations d'achat personnalisées
• Options de livraison gratuites pour les achats de plus de 89 $
• Suivi des stocks en temps réel

Application de magasinage mobile

L'application mobile Nordstrom a été téléchargée plus de 5,2 millions de fois, avec 2,1 millions d'utilisateurs actifs mensuels.

Métrique de l'application mobile	Valeur
Téléchargements totaux	5,200,000
Utilisateurs actifs mensuels	2,100,000

Plateformes de médias sociaux

Nordstrom maintient une présence importante sur les réseaux sociaux sur plusieurs plateformes:

• Instagram: 2,4 millions d'adeptes
• Facebook: 1,8 million d'abonnés
• Twitter: 752 000 abonnés
• Pinterest: 1,1 million de followers

Catalogue et marketing direct

Les canaux de marketing directs génèrent environ 320 millions de dollars de revenus annuels pour Nordstrom.

Canal de marketing direct	Revenus annuels
Catalogues imprimés	$180,000,000
Campagnes de publipostage	$140,000,000

Nordstrom, Inc. (JWN) - Modèle d'entreprise: segments de clientèle

Professionnels urbains riches

Nordstrom cible les professionnels urbains avec un revenu annuel des ménages de 150 000 $ +. Ce segment représente 22% de la clientèle principale de Nordstrom.

Tranche de revenu	Pourcentage de segment	Dépenses annuelles moyennes
$150,000 - $250,000	12%	$4,800
$250,000 - $400,000	8%	$7,200
$400,000+	2%	$12,500

Milléniaux conscients de la mode

Les milléniaux âgés de 25 à 40 ans représentent 35% de la clientèle de Nordstrom, avec une dépense de mode annuelle moyenne de 2 300 $.

• Taux d'engagement numérique: 68%
• Pourcentage d'achat mobile: 52%
• Valeur d'achat en ligne moyenne: 340 $

Acheteurs de luxe haut de gamme

Le segment de luxe représente 15% des revenus de Nordstrom, les clients dépensant plus de 10 000 $ par an sur les marques de créateurs.

Catégorie de marque de luxe	Pourcentage de clientèle	Dépenses moyennes
Vêtements de créateurs	7%	$6,500
Accessoires haut de gamme	5%	$4,200
Chaussures de luxe	3%	$3,800

Clientèle d'entreprise et d'entreprise

Les clients d'entreprise représentent 12% des activités de Nordstrom, avec des services de style uniforme et personnels.

• Valeur moyenne du compte d'entreprise: 75 000 $
• Nombre de clients d'entreprise: 1 200
• Utilisation du service de style d'entreprise: 65%

Jeunes femmes professionnelles

Les femmes âgées de 25 à 35 ans représentent 16% de la clientèle de Nordstrom, avec des offres de vêtements professionnels et occasionnels ciblés.

Groupe d'âge	Pourcentage	Dépenses de vêtements annuels moyens
25-30 ans	8%	$3,200
30-35 ans	8%	$4,100

Nordstrom, Inc. (JWN) - Modèle d'entreprise: Structure des coûts

Frais d'achat d'inventaire

Au cours de l'exercice 2022, l'inventaire total de Nordstrom était de 1,939 milliard de dollars. Le coût des marchandises vendues (COG) était d'environ 5,95 milliards de dollars.

Catégorie d'inventaire	Coût ($)
Inventaire de vêtements	1,2 milliard de dollars
Inventaire des accessoires	439 millions de dollars
Inventaire de chaussures	300 millions de dollars

Opérations et entretien des magasins

Les dépenses annuelles liées au magasin pour l'exercice 2022 ont totalisé 2,7 milliards de dollars, notamment:

• Coûts de loyer et d'occupation: 850 millions de dollars
• Services publics: 120 millions de dollars
• Entretien des magasins: 180 millions de dollars

Développement de plate-forme numérique

Technologie et investissement numérique en 2022: 320 millions de dollars

Catégorie d'investissement numérique	Dépenses ($)
Développement de sites Web	125 millions de dollars
Amélioration des applications mobiles	85 millions de dollars
Infrastructure de commerce électronique	110 millions de dollars

Salaires et formation des employés

Total des dépenses liées aux employés pour 2022: 1,6 milliard de dollars

• Salaires du personnel de vente au détail: 980 millions de dollars
• Compensation des employés de l'entreprise: 420 millions de dollars
• Formation et développement des employés: 45 millions de dollars

Investissements marketing et publicitaire

Dépenses de marketing au cours de l'exercice 2022: 280 millions de dollars

Canal de marketing	Dépenses ($)
Publicité numérique	160 millions de dollars
Médias traditionnels	75 millions de dollars
Marketing des médias sociaux	45 millions de dollars

Nordstrom, Inc. (JWN) - Modèle d'entreprise: Strots de revenus

Ventes de vêtements de luxe et de créateurs

Nordstrom a déclaré que les ventes nettes totales de 15,1 milliards de dollars au cours de l'exercice 2022.

Catégorie de vêtements	Pourcentage de revenus	Valeur en dollars
Vêtements de luxe pour femmes	22%	3,32 milliards de dollars
Vêtements de créateurs pour hommes	15%	2,27 milliards de dollars
Accessoires de créateurs	8%	1,21 milliard de dollars

Accessoires et chaussures

Les accessoires et les chaussures ont généré 4,53 milliards de dollars de revenus pour l'exercice 2022.

• Chaussures: 2,27 milliards de dollars
• Sacs à main: 1,36 milliard de dollars
• Bijoux et petits accessoires: 900 millions de dollars

Services de style personnel

Nordstrom Trunk Club et Personal Styling Services ont généré 352 millions de dollars de revenus en 2022.

Vente au détail en ligne et en magasin

Les ventes numériques représentaient 41% du total des ventes nettes, soit 6,2 milliards de dollars au cours de l'exercice 2022.

Canal de vente	Revenu	Pourcentage des ventes totales
Vente au détail en magasin	8,9 milliards de dollars	59%
Vente au détail en ligne	6,2 milliards de dollars	41%

Revenus de carte de crédit Nordstrom

Le programme de carte de crédit Nordstrom a généré 233 millions de dollars d'intérêts et de frais au cours de l'exercice 2022.

• Comptes de carte de crédit totaux: 3,2 millions
• Valeur de transaction moyenne: 187 $
• Taux de pénétration de la carte de crédit: 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.