Nordstrom, Inc. (JWN): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Nordstrom, uma potência de varejo de luxo que transformou magistralmente as experiências de compras tradicionais por meio de modelagem inovadora de negócios. Ao misturar moda de ponta, atendimento personalizado ao cliente e integração digital de ponta, a Nordstrom criou um nicho único no cenário competitivo de varejo. Essa divisão de canvas do modelo de negócios revela os intrincados mecanismos que impulsionam o sucesso da empresa, mostrando como eles alavancaram parcerias estratégicas, recursos de omnichannel e um profundo entendimento de seus segmentos de clientes-alvo para permanecer um destino principal para os consumidores de moda.

Nordstrom, Inc. (JWN) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com marcas de luxo e designers

A Nordstrom mantém parcerias com mais de 500 marcas de designer e luxo a partir de 2024. As principais parcerias da marca incluem:

Categoria de marca	Número de parcerias	Porcentagem de inventário
Marcas de moda de luxo	185	42%
Designers contemporâneos	215	33%
Colaborações exclusivas	52	12%

Colaboração com plataformas de mercado on -line

A Nordstrom estabeleceu parcerias no mercado digital com:

• Farfetch (plataforma de luxo online)
• Nordstrom Marketplace (plataforma digital interna)
• Integrações de vendedores de terceiros

Fornecedores de tecnologia para infraestrutura digital

Parceiro de tecnologia	Serviço prestado	Investimento anual
Microsoft Azure	Computação em nuvem	US $ 12,5 milhões
SEIVA	Planejamento de recursos corporativos	US $ 8,3 milhões
Salesforce	Gerenciamento de relacionamento com o cliente	US $ 5,7 milhões

Cadeia de suprimentos e parceiros de logística

Nordstrom colabora com vários provedores de logística:

• UPS (parceiro de remessa primária)
• FedEx (provedor de transporte alternativo)
• DHL (International Logistics)

Cartão de crédito e provedores de serviços financeiros

Parceiro financeiro	Serviços	Cartões de crédito ativos
Sincronia financeira	Cartão de crédito Nordstrom	2,3 milhões
Visa	Processamento de pagamento	N / D
MasterCard	Processamento de pagamento	N / D

Nordstrom, Inc. (JWN) - Modelo de negócios: Atividades -chave

Merchandising de varejo e curadoria de produtos

A Nordstrom opera 101 lojas de linha completa e 243 lojas Nordstrom Rack a partir de 2023. As vendas anuais de mercadorias atingiram US $ 14,4 bilhões no ano fiscal de 2022. O sortimento do produto inclui:

Categoria	Porcentagem de vendas
Vestuário feminino	38%
Vestuário masculino	22%
Sapato	20%
Acessórios	20%

Gerenciamento de experiência do cliente omnichannel

As vendas digitais representaram 41% do total de vendas líquidas no ano fiscal de 2022. Os principais recursos de omnichannel incluem:

• Compre online, pegue na loja
• Coleta na calçada
• Entrega no mesmo dia
• Serviços de estilo virtual

Desenvolvimento e manutenção da plataforma digital

Os investimentos digitais totalizaram US $ 259 milhões em 2022. A infraestrutura tecnológica inclui:

Plataforma	Principais recursos
Nordstrom.com	Plataforma de comércio eletrônico com mais de 10 milhões de clientes ativos
Nordstrom App	4,7/5 Classificação, 5 milhões+ Downloads

Atendimento ao cliente e personalização

Estilistas pessoais de Nordstrom Atenda mais de 1 milhão de clientes anualmente. O programa de fidelidade do cliente inclui 8,5 milhões de membros ativos, gerando 50% do total de vendas.

Gerenciamento e otimização de inventário

A taxa de rotatividade de inventário de 4,2x em 2022. A rede da cadeia de suprimentos inclui:

• 6 centros de distribuição
• 3 centros de atendimento
• Rastreamento de inventário em tempo real em mais de 350 locais

Nordstrom, Inc. (JWN) - Modelo de negócios: Recursos -chave

Forte reputação de marca no varejo de luxo

O valor da marca da Nordstrom estimado em US $ 5,4 bilhões em 2023. Classificado em 317 na lista de marcas mais valiosas da Forbes World.

Métrica da marca	Valor
Valor da marca	US $ 5,4 bilhões
Ranking da marca Global da Forbes	317

Rede de varejo físico e digital extenso

Locais totais de varejo: 285 lojas a partir de 2023.

• Nordstrom Stores: 106
• Nordstrom Rack Stores: 179
• Plataformas digitais: Nordstrom.com, Nordstrom Rack online

Recursos avançados de dados e análises do cliente

Métrica de dados do cliente	Valor
Membros do programa de fidelidade Nordstrom	16,5 milhões
Vendas digitais anuais	US $ 4,1 bilhões

Força de trabalho qualificada

Total de funcionários: 68.000 a partir de 2023.

• Funcionários em tempo integral: 42.000
• Funcionários de meio período: 26.000

Inventário de alta qualidade e seleção de produtos

Métrica de inventário	Valor
Valor anual de inventário	US $ 1,9 bilhão
Marcas únicas transportadas	500+

Nordstrom, Inc. (JWN) - Modelo de negócios: proposições de valor

Experiência de compra premium do cliente

A Nordstrom registrou US $ 14,75 bilhões em receita total para o ano fiscal de 2023. A empresa mantém 349 lojas de linha completa e 248 locais de rack Nordstrom nos Estados Unidos.

Métricas da experiência do cliente	2023 dados
Pontuação média de satisfação do cliente	4.2/5
Pontuação do promotor líquido	67
Interações anuais do cliente	35,4 milhões

Gama de produtos sofisticada e diversificada

A Nordstrom carrega aproximadamente 2.500 marcas em várias categorias de produtos.

• Marcas de designer de luxo
• Moda contemporânea
• Acessórios
• Produtos de beleza
• Bens domésticos

Estilo personalizado e atendimento ao cliente

O Nordstrom Trunk Club gerou US $ 500 milhões em receita em 2023, com 250.000 assinantes de estilo ativo.

Serviço de personalização	Métricas
Estilistas pessoais	1,200
Sessões de estilo virtual	175.000 anualmente

Integração de compras omnichannel sem costura

As vendas digitais representaram 37% do total de vendas da empresa em 2023, totalizando US $ 5,46 bilhões.

• Aplicativo móvel com 8,2 milhões de usuários ativos
• Compre online, pegue a opção na loja (Bopis)
• Rastreamento de inventário em tempo real

Programa de fidelidade com benefícios exclusivos

O programa Nordstrom Rewards possui 12,5 milhões de membros ativos, gerando 65% do total de vendas da empresa.

Nível do Programa de Fidelidade	Benefícios	Contagem de membros
Nordy Club Membro	Pontos nas compras	9,2 milhões
Membros do status do ícone	Vantagens premium	3,3 milhões

Nordstrom, Inc. (JWN) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de estilo pessoal

A Nordstrom oferece serviços de estilo pessoal complementar através de:

• Nordstrom Trunk Club: seleções de roupas personalizadas
• Consultas de estilo online
• Compromissos de estilo pessoal na loja

Tipo de serviço	Usuários anuais	Custo médio de estilo
Estilo online	375,000	Livre
Clube de Trunk	185,000	Taxa de estilo de US $ 25

Suporte ao cliente dedicado

A Nordstrom fornece suporte ao cliente multicanal:

• 24/7 de atendimento ao cliente online
• Assistência ao cliente na loja
• Suporte por telefone: 1-888-763-4832

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Chat online	2,5 minutos	92%
Suporte telefônico	3,8 minutos	88%

Programa de fidelidade Nordstrom Rewards

Detalhes do programa de fidelidade:

• Associação: 13,2 milhões de membros ativos
• Gasto anual por membro: US $ 1.450
• Taxa de resgate de recompensa: 67%

Nível de associação	Requisito anual de gastos	Porcentagem de recompensas
Insider	$0-$499	1%
Embaixador	$500-$4,999	2%
Ícone	$5,000+	3%

Experiências digitais e na loja personalizadas

Métricas de personalização digital:

• Downloads de aplicativos móveis: 6,3 milhões
• Engajamento de personalização digital: 58%
• Precisão de recomendação on -line: 72%

Estratégias proativas de envolvimento do cliente

Canais de engajamento e desempenho:

• Assinantes de marketing por email: 9,7 milhões
• Seguidores de mídia social: 4,2 milhões
• Taxa de engajamento médio: 3,6%

Canal de engajamento	Usuários ativos mensais	Taxa de conversão
Instagram	2,1 milhões	2.4%
Facebook	1,5 milhão	1.9%

Nordstrom, Inc. (JWN) - Modelo de Negócios: Canais

Lojas de varejo físico

A partir de 2024, a Nordstrom opera 210 lojas de linha completa e 247 locais de rack Nordstrom nos Estados Unidos.

Tipo de loja	Número de locais
Lojas de linha completa	210
Nordstrom Rack	247
Locais totais de varejo	457

Site de comércio eletrônico

O Nordstrom.com gera aproximadamente US $ 4,3 bilhões em vendas on -line anuais, representando 39% da receita total da empresa.

• Os recursos do site incluem recomendações de compras personalizadas
• Opções de frete grátis para compras acima de US $ 89
• Rastreamento de inventário em tempo real

Aplicativo de compra móvel

O aplicativo Nordstrom Mobile foi baixado mais de 5,2 milhões de vezes, com 2,1 milhões de usuários ativos mensais.

Métrica de aplicativo móvel	Valor
Downloads totais	5,200,000
Usuários ativos mensais	2,100,000

Plataformas de mídia social

Nordstrom mantém presença significativa nas mídias sociais em várias plataformas:

• Instagram: 2,4 milhões de seguidores
• Facebook: 1,8 milhão de seguidores
• Twitter: 752.000 seguidores
• Pinterest: 1,1 milhão de seguidores

Catálogo e marketing direto

Os canais de marketing direto geram aproximadamente US $ 320 milhões em receita anual para a Nordstrom.

Canal de marketing direto	Receita anual
Catálogos impressos	$180,000,000
Campanhas de mala direta	$140,000,000

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

Profissionais urbanos ricos

A Nordstrom tem como alvo profissionais urbanos com renda familiar anual de US $ 150.000+. Esse segmento representa 22% da base de clientes da Nordstrom.

Faixa de renda	Porcentagem de segmento	Gasto médio anual
$150,000 - $250,000	12%	$4,800
$250,000 - $400,000	8%	$7,200
$400,000+	2%	$12,500

Millennials conscientes da moda

A geração do milênio de 25 a 40 anos constitui 35% da base de clientes da Nordstrom, com um gasto médio anual de moda de US $ 2.300.

• Taxa de engajamento digital: 68%
• Porcentagem de compras móveis: 52%
• Valor médio de compra on -line: $ 340

Compradores de luxo de ponta

O segmento de luxo representa 15% da receita da Nordstrom, com os clientes gastando mais de US $ 10.000 anualmente em marcas de designers.

Categoria de marca de luxo	Porcentagem do cliente	Gasto médio
Roupas de grife	7%	$6,500
Acessórios de ponta	5%	$4,200
Calçados de luxo	3%	$3,800

Clientela corporativa e de negócios

Os clientes corporativos representam 12% dos negócios da Nordstrom, com serviços de estilo corporativo e de estilo pessoal.

• Valor médio da conta corporativa: $ 75.000
• Número de clientes corporativos: 1.200
• Uso do serviço de estilo corporativo: 65%

Jovens profissionais

As mulheres de 25 a 35 anos representam 16% da base de clientes da Nordstrom, com ofertas de desgaste profissional e casual focadas.

Faixa etária	Percentagem	Gastos médios de roupas anuais
25-30 anos	8%	$3,200
30-35 anos	8%	$4,100

Nordstrom, Inc. (JWN) - Modelo de negócios: estrutura de custos

Despesas de compras de inventário

No ano fiscal de 2022, o inventário total da Nordstrom foi de US $ 1,939 bilhão. O custo dos bens vendidos (COGs) foi de aproximadamente US $ 5,95 bilhões.

Categoria de inventário	Custo ($)
Inventário de vestuário	US $ 1,2 bilhão
Inventário de acessórios	US $ 439 milhões
Inventário de calçados	US $ 300 milhões

Operações e manutenção da loja

As despesas anuais relacionadas à loja para o ano fiscal de 2022 totalizaram US $ 2,7 bilhões, incluindo:

• Custos de aluguel e ocupação: US $ 850 milhões
• Utilitários: US $ 120 milhões
• Manutenção da loja: US $ 180 milhões

Desenvolvimento da plataforma digital

Tecnologia e investimento digital em 2022: US $ 320 milhões

Categoria de investimento digital	Despesa ($)
Desenvolvimento de sites	US $ 125 milhões
Melhoramento de aplicativos móveis	US $ 85 milhões
Infraestrutura de comércio eletrônico	US $ 110 milhões

Salários e treinamento de funcionários

Total de despesas relacionadas aos funcionários para 2022: US $ 1,6 bilhão

• Salários da equipe de varejo: US $ 980 milhões
• Compensação de funcionários corporativos: US $ 420 milhões
• Treinamento e desenvolvimento de funcionários: US $ 45 milhões

Investimentos de marketing e publicidade

Despesas de marketing no ano fiscal de 2022: US $ 280 milhões

Canal de marketing	Gastos ($)
Publicidade digital	US $ 160 milhões
Mídia tradicional	US $ 75 milhões
Marketing de mídia social	US $ 45 milhões

Nordstrom, Inc. (JWN) - Modelo de negócios: fluxos de receita

Vendas de roupas de luxo e grife

A Nordstrom registrou vendas líquidas totais de US $ 15,1 bilhões no ano fiscal de 2022. O segmento de roupas de luxo representou aproximadamente 45% da receita total, representando US $ 6,8 bilhões.

Categoria de roupas	Porcentagem de receita	Valor em dólar
Vestuário de luxo feminino	22%	US $ 3,32 bilhões
Roupas de grife masculinas	15%	US $ 2,27 bilhões
Acessórios de designer	8%	US $ 1,21 bilhão

Acessórios e calçados

Acessórios e calçados geraram US $ 4,53 bilhões em receita para o ano fiscal de 2022.

• Sapatos: US $ 2,27 bilhões
• Bolsas: US $ 1,36 bilhão
• Jóias e pequenos acessórios: US $ 900 milhões

Serviços de estilo pessoal

O Nordstrom Trunk Club e os serviços de estilo pessoal geraram US $ 352 milhões em receita em 2022.

Varejo online e na loja

As vendas digitais representaram 41% do total de vendas líquidas, totalizando US $ 6,2 bilhões no ano fiscal de 2022.

Canal de vendas	Receita	Porcentagem de vendas totais
Varejo na loja	US $ 8,9 bilhões	59%
Varejo online	US $ 6,2 bilhões	41%

Receita do cartão de crédito Nordstrom

O programa de cartão de crédito da Nordstrom gerou US $ 233 milhões em juros e taxas durante o ano fiscal de 2022.

• Contas totais de cartão de crédito: 3,2 milhões
• Valor médio da transação: $ 187
• Taxa de penetração do cartão 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.