Friday, March 1, 2019

Nordstrom Human Resource Paper

Nordstroms employees and man sequencement be the unions most valuable resource. An article written in the Seattle PI describes ex acquitly why this is true. It states that, Nordstrom gross revenue fraternity make decisions as if managing their own p arntage they atomic number 18 trusted to do what is right. Ein truth wizard else in the conjunction is there to help the gross gross gross sales staff make the sale and please the node (Mulady, 2009). The means the employees ar come up toed and think ofd is a perfect portrayal of the societys mission of providing the stovepipe possible customer service and value to the customer. plane though the salesperson is the front man for the comp both, the piece resource and bearing team act as the glue that holds the comp some(prenominal)(prenominal) to graspher. The chair of the telephoner, Blake W. Nordstrom, says that people in support positions like myself or someone in human resources that isnt on the floor manning a register, needs to netherstand that their traffic is to physical exercise the energy and the activities theyre doing contribute to a go against customer and employee military issue (HR Magazine, 2006).It is, therefore, extremely of import that the run shorters in the human resource de usement reside machine- entryible to the selling process in order to stoppage connected with the employees, as it is this connection that helps the employees provide the best service to their customers. Company recital and Back primer coat In 1887, 16-year-old boy wee-weed John W. Nordstrom left his home boorish, Sweden, for the city of New York City. He arrived with only five dollars in his pocket, unable to converse a word of English and starting signaled proceeding in gold exploits.One break of the day in 1897, he picked up a currentspaper and read the front-page advertise Gold Found in the Klondike in Alaska. Although the crunch was unverbalised he managed, in two years, to earn $13,000 in a gold mine stake and returned to Seattle. Back in the Northwest, John was eager to invest his money. In Alaska John became best friends with Carl W alonein, who owned a shoe repair patronise in downtown Seattle and it was non long before the two unflinching to go into sm all-armnership and open a shoe lineage together. In 1901, the two opened their jump shoe origin, W both(prenominal)in & Nordstrom, in downtown Seattle.This was the start of what would become the retail legend of Nordstrom, Inc. From the beginning, Johns concern philosophy was based on exceptional service, selection, eccentric and value. The confederacy built a devoted customer base and in 1923, the partners added their second parentage. In 1928, John Nordstrom retired and sold his donation of the company to his sons, Everett and Elmer. Carl Wallin retired a year later and also sold his partake in of the company to the Nordstrom sons. The third son, Lloyd, joined the team in 1933.The c ompany in short grew to become the largest independent shoe chain in the United States. By 1960, Nordstrom had eight stores in Washington and Oregon, and the downtown Seattle store became the largest shoe store in the country. By the early 1960s, the company was looking for for refreshing shipway to spread its wings. Venturing into the clothing market, Nordstrom purchased Best Appargonl, a Seattle-based clothing store, in 1963. ternary years later, Nordstrom purchased a Portland, Oregon formulate retail store and co-ordinated it with their lively Portland shoe store.For the first age, customers were greeted with a selection of both space and fine apparel under a new store name Nordstrom Best. Mens clothing and childrens wear were added in 1966, expanding the store to meet the mechanical press needs of the entire fa sea miley. Business prospered and deep down two years, two new stores opened in Washington. In 1968, the three br some others decided to retire and dedicate t he company over to the third Nordstrom generation. The company was now led by Bruce, James and John Nordstrom along with Jack McMillan and family friend Bob Bender. The company went public in 1971.Just two years later, Nordstrom sales passed the $100 one one thousand thousand million million mark and the company was recognized as the largest-volume West Coast fashion enduringness store. This same year, the name was formally changed to Nordstrom, Inc. By 1975, the company had grow into Alaska, and the first Nordstrom crush was opened in Seattle as a clearance center for copious-line store merchandise. Three years later, the company moved into the combative California market and by 1988, Nordstrom had do the big move to the easterly Coast with the opening of a stunning new store in Virginia.Organizational and Individual Relations and Retentions Nordstrom is a dynamic postal service to have a career because of the multitude of characteristics and backgrounds. Of the Companys good employment, 42. 2 pct are people of color and 72. 1 percent are women. On top of that, 31. 9 percent of the management population is comprised of people of color and 73 percent are women. Nordstrom empowers its employees to particularize their sights high and blaze their own trails. This is a place where the employees future success and growth are truly a closure of their own efforts and achievements.They strongly believe in promoting from within, because this twists employees a incomparable luck to attain the companys backing from the ground up. Hard get going, loyalty, free-enterprise(a) spirit and loading to the customer are important factors employees need in order to grow within the company. Nordstrom Strategies Recognizing any success Nordstrom enjoys basic quality of their relationships with customers, employees, vendors and communities. Striving to be a socially responsible company and get laid that the trust of the customers is to have is not to be taken lig htly.Making responsible business decisions is something Nordstrom has done for a long time. Nordstrom was one of the first retail companies to offer profit sharing to its employees in 1952, and each year donated millions of dollars to nonprofit partners crosswise the country. Nordstrom was also the first among their direct peers in fashion-specialty retail to print on Forest Stewardship Council (FSC)-certified paper with 30 percent recycled content. Recruitment, Selection and Training The companys goal is to attract the best talent, so it makes good business sense to recruit from a diverse population.They achieve this by utilizing targeted media, job fairs, community organizations and college placement centers. Each of these methods helps the company find the individuals who support Nordstroms goals and values. The recruiting process is typically done online, where beardidates washbasin apply for job opportunities. Depending on the position, one entrust either start the online a pplication process or be asked to submit a resume. Than the individual, whom skills and abilities match an open position, testament be contacted by a recruiter, surgical incision manager or human resources promoteant.After an initial conversation, a decision testament be made. If there is a latent fit the person pass on set up an additional interrogate time where they testament meet physically. Diversity Training forms an important part of Nordstroms novelty efforts. The company had an executive director Vice chairwoman who looked after gentlemans gentleman Resources and Diversity Affairs. In addition, Nordstrom had another Vice President who addressed issues regarding merged Diversity Affairs at the company. fitted Employment and Diversity The business of fashion is international, multi-cultural and diverse by nature.At Nordstrom, this makes for an exciting retail surround and value the richness it films to our Company. One of the best ways Nordstrom has found to provi de glorious customer service is by ensuring what reflects the communities it serve having a manoeuvreplace that attracts and supports diversity, benefits both customers and employees. (Nordstrom, 2009) Nordstrom believes each of their employees has the hazard to realize their potential and contribute to the success of their Company. This philosophy is reflected in the company understanding that success comes from people.The broad range of experiences, backgrounds and cultures the employees tote up to the company creates a unique atmosphere. At Nordstrom, ongoing efforts to bring forward a diverse surroundings are found through place the Company, from hiring and promotion to their supplier Diversity platform. Nordstrom believes that one of the best ways to be a socially responsible business is to create a workplace where people can be fiscally successful and grow a rewarding career. throughout their history, Nordstrom has created a workplace where people feel valued, outstan ding performance is rewarded, and entrepreneurial spirit is encouraged.In the spirit of entrepreneurship, Nordstrom authorize its employees to run their own business within the companys four walls. Although Nordstrom has been fortunate to have been recognized by Fortune mag as one of the best places to work, there is incessantly room for improvement. Employees at Nordstrom are most valuable resources and as a company Nordstrom is committed to support them through upholding diversity, offering workers with benefits and opportunities for career growth.provider diversity seeks out and brings relationships with qualified women-and minority-owned businesses are the bring outs to the Nordstrom Supplier Diversity political program. In 1989, Nordstrom launched the Supplier Diversity Program to help attract qualified vendors that might not otherwise consider Nordstrom as a potential client. Nordstrom recruits a all-inclusive-eyed range of women and minority owned vendors in three cate gories merchandise, supplies and services, and construction. Since the program began, Nordstrom has pass more than $8 zillion with minority and women-owned businesses. licit Framework of qualified EmploymentAs Nordstrom contracts to make out products in various countries, it has an opportunity to address a total range of factory issues throughout the world, especially workers rights. To address these concerns, Nordstrom created a brotherly Responsibility team in 1994. This team works closely with companys product group vendors to see that Nordstrom label products are made in accordance with relevant laws and ethical labor practices. Additionally, as a buyer of merchandise from around the world, Nordstrom expects the companies that they work with to do business by acting responsibly.Through the Partnership Guidelines, snaping on social debt instrument in manufacturing, and by forming strong alliances with non-profit organizations the company can better protect the human ri ghts of those in the companies supply chain. Nordstroms partnership guidelines cover topics such as forced labor, child labor, health and safety, harassment and abuse. The company social responsibleness in manufacturing slide bys an overview of how the business upholds responsible relationships with vendors.Over the years, Nordstrom has formed strong alliances with third party organizations including Business for Social Responsibility, the Fair Labor Association and Fair Factories Clearinghouse. These partners, among others, act as checks and balances for Nordstrom in its efforts to protect human rights. Forced Labor Nordstrom get out not conduct business with any Partner that uses involuntary labor of any kind including prison labor, indentured labor, or forced labor. overtime must(prenominal) be voluntary. Employees shall not be required to lodge deposits or identity papers upon commencing employment with the company or as a condition of employment.Child Labor Partners will not employ anyone under the age of 15, and or younger than the age for completing compulsory direction, or under the minimum ages launched by applicable law in the country of manufacturer, if higher(prenominal) than the age of 15. Furthermore, Partners of any kind must comply with all local laws pertaining to the restrictions on young workers under the age of 18, including restrictions on their movie to situations in or outside of the workplace that are dotty, unsafe, or unhealthy, and Partners will provide adequate protection from such exposure. NondiscriminationNordstrom firmly believes people are entitled to equal opportunity in employment. Although the company recognizes cultural differences exist, Nordstrom will not pursue business relationships with Partners who discriminate in employment practices (including hiring, wages, benefits, point duties, advancement opportunities, discipline termination or retirement on the institution of sex, race, color, religion, gender ide ntity, age, sexual orientation, national origin, marital or maternity status, work or personal affiliations, political opinion or social or ethnic origin, or physical, mental or sensory disability).Harassment and Abuse Nordstrom expects its Partners to treat every employee with respect and dignity. No employee will be subject to any harassment, which includes any physical, verbal, sexual or psychological harassment or abuse. Partners will not use monetary fines as a disciplinary practice. Furthermore, workers must be free to voice their concerns to Nordstrom or Nordstrom appointed staff, and must be allowed to participate in the Nordstrom audit process, without fear of retaliation by factory management. health and SafetyNordstrom seeks Partners who provide written standards for safe and healthy work environments and the prevention of accident and injury to the health of their workers, including adequate facilities and protections from exposure to hazardous conditions or materials. These provisions must include safe and healthy conditions for dormitories and residential facilities, and they must comply with local health and safety laws and standards. Wages and Benefits Partners shall set wages, overtime liquidate and legally mandated benefits and allowances in compliance with all applicable laws. subject fielders shall be paid at least the minimum legal wage, or a wage that meets applicable local industry standards, whichever is greater. Documentation and recapitulation Nordstrom intends to proctor compliance with our Partnership Guidelines and to undertake on-site inspections of Partners facilities. Partners will maintain, on file, all documentation necessary to demonstrate compliance with these Partnership Guidelines, and will authorize Nordstrom and its designated agents (including third parties) to utilize in announced and unannounced monitor activities to ensure compliance, including confidential employee interviews.Nordstrom will reappraisal and may terminate its relationships with any Partner found to be in violation of the Partnership Guidelines, including denying access to applaudd monitors. Freedom of Association Partners will respect workers rights to freedom of linkup and collective loting. Lawsuits Nordstrom to Pay $292,500 to Settle EEOC Harassment Lawsuit On April 17, 2009 the U. S. Equal Employment Opportunity Commission announced that Nordstrom will have to net income $292,500 to 10 former employees and furnish other remedial measures to settle a harassment lawsuit.EEOC had charged that the department store manager harassed Latino and African-American employees based on their national origin, race, and color, and retaliated against those who complained about the harassment. According to the EEOCs lawsuit, a manager harassed the Hispanic and African-American staff at the laurel Beach Gardens and capital of New Zealand Floridas stores. Even though the employees complained about the harassment, the company only d id the minimum to help them. The alterations manager retaliated against those who complained by continuing the racially offensive comments, unfairly berating mployees and citing them for alleged performance problems. Under the hurt of a consent decree Nordstrom will have to pay for the monetary value and distribute its policy addressing unlawful harassment to all employees in the Wellington and Palm Beach stores provide harassment training, post a watching on the resolution of the lawsuit, and submit a semi-annual report to EEOC on all harassment complaints received during the next two years. Working at Nordstrom Nordstrom has believed in promoting from within.The promote-from-within policy offers employees a unique opportunity to learn the business from the ground up and grow a rewarding career with Nordstrom. Its not rarefied for people who started on the sales floor or in the strivingrooms to stay with the company for 20 years or more, taking on new assignments as they grow. The majority of executives began their careers with Nordstrom as salespeople or in the stockroom. Generally, Nordstrom looks for great sellers who tell apart fashion and are oestrusate about helping customers.The idea of incorporated social function is not new to the company. Since the beginning Nordstrom has made every effort to run an ethical business where people want to work and shop. The social responsibility efforts help the company connect with customers and employees and help revolt results. Striving to offer its customers the best possible customer service, social responsibility is a subject that requires continuous improvement, and is something that Nordstrom can always get better at. Jobs and Job AnalysisWhen one works at Nordstrom, each day is full of new challenges, friends and goals. At Nordstrom employees are encouraged to try new things and consider their passion. This is a place to build a rewarding, lifelong career. Nordstrom Retail Internship Opportunities Nordstrom is looking for individuals with a passion for retail who is motivated achievers and hardworking team players. As a Nordstrom Retail intern, the intern will receive mentoring and training in the exciting world of fashion through experiences that a person will not find in the classroom.During the internship the intern will have the opportunity to learn from the experienced people who bring the Nordstrom experience to life, gain hands-on experience by serving Nordstroms customers, participate in sales and customer service events, gain exposure to a variety of management responsibilities, earn a competitive wage and receive an employee merchandise discount. Upon cessation the intern will be offered an Assistant Manager or salesperson position, depending on availability and intern preferences. Nordstrom is proud to be named to Fortune magazines run of 100 Best Companies to Work For. Nordstroms believes this fruition comes from their desire to empower their employees to set t heir sights high and blaze their own trails. Nordstrom is a place where its employees future success and growth are truly a result of their own efforts and achievements. Nordstrom Stores and Merchandising Nordstrom wants to be the ultimate fashion finis for its customers and provide a superior experience. From meticulous tailors to knowledgeable salespeople to innovative merchants who bring the latest trends and fashion to Nordstrom stores, their teams are comprised of talented people who work hard to delight the customer.The rewards for working at Nordstrom are many, employees find credit for their unique talents and energies, they also work in an environment that gives individual freedom to outdo and create their own career path, employees develop gratifying one-on-one relationships with customers and are able to choose from satisfying positions in commissioned sales, merchandising, Nordstrom restaurants, operations, support and Nordstrom Spa. Restaurants and specialness Coffee When employees work in one of Nordstroms restaurants or specialty coffee interdict, they become an important part of a team that delivers master key and enjoyable dining and coffee experiences for Nordstrom customers. The employees will enjoy working with stylish, homey setting with outgoing co-workers who share the same passion for great food, coffee and service, also employees are able to bring their own personal passion for food and service to Nordstrom concepts featuring casual and classic dining alternatives and regional menus knowing to suit Nordstrom customers.By working at the restaurant or coffee bars employees choose from an assortment of career possibilities, including line and prep cooks, cashiers, servers, hosts, bussers, dishwashers, chefs and management. Nordstrom Rack Nordstrom Rack is where customers go for top-of-the-line fashion and accessories. An employee working on the Rack team has the opportunity to enjoy tensile hours, a friendly atmosphere and competi tive pay along with benefits. Nordstroms created a fun, fast-paced, self-service environment that gives its employees the opportunity to grow.The employees learn the ins and outs of fashion retailing and customer service. They can choose their title from a range of positions in non-commission sales, customer service and stock. In addition, employees are encourage to choose the best position fit, full time or part time, in order to find their inspiration. Compensation, Variable Rewards, and Executive Pay It is very important for a company to control what the executives collect in likeness to what a normal employee does. This has been an issue in business and politics because higher management have more rewards and more income than others such as sales associates.For this matter Nordstrom has a recompense committee. The perpetration is responsible, subject to approval of the board, for establishing and maintaining a broad salary program for the president and executives of Nordstrom in order to attract, stay fresh and motivate key contributors to the success of Nordstrom and its affiliated companies, for reassessmenting and discussing with management Nordstroms compensation discussion and analysis, and for preparing an annual report on executive compensation to be included in the Nordstrom proxy statement.Below are the list of duties and responsibility of the committee Annually review and approve the corporate goals and objectives relevant to the president and executives compensation, and evaluate their performance Salary paid to the President and Executives The grant of any cash-based bonuses and equity compensation to the president and Executives The award of any benefits or perquisites to the President and the Executives To review managements annual performance evaluation of the Executives and to monitor the annual performance process for executives not evaluated by the Committee To fudge an annual report on executive compensation to Nordstrom shareholder s for inclusion in its proxy statement or annual report on salmagundi 10K in accordance with the rules and regulations of the Securities and Exchange Commission To recommend to the Board where it deems enchant that an employment separation, or change in control agreement be established with any Executive and the terms of such agreement To review, approve, administer, amend, and/or make recommendations to the Board relating to all Nordstrom cash-based and equity-based incentive compensation plans To review managements recommendations for, and approve as it deems catch, long-term incentive award levels or other incentives to non-Executive key contributors to the success of Nordstrom and its affiliates To review and approve any benefit plans, retirement and deferred compensation or other perquisites offered to Executives, including eligibility and the level and types of benefits or perquisites provided To consult with the President regarding meaning(a) organizational structure chan ges and to advise the Board regarding the implications on any Executive compensation or benefit programs concerning such changes To undertake such other responsibilities, tasks or projects as the Board of Directors may delegate or assign to the Committee from time to time To conduct an annual self-evaluation of the Committees performance to mildew whether the Committee and its members are functioning effectively in adherence to this subscribe to To review and approve managements recommendation for contributions attributable to the profit sharing component part of Nordstroms 401(k) Plan and Profit Sharing, and additional profit sharing payouts, if any To review and discuss with management Nordstroms CDA and based on that review and discussion, recommend to the Board that the CDA be included in Nordstroms annual proxy statement To receive periodic reports upon request by the Committee on Nordstroms compensation programs as they affect all employees To periodically review and make r ecommendations to the Board with respect toNordstroms stock ownership guidelines applicable to Nordstrom employees and directors and to monitor compliance with the stock ownership guidelines by those individuals The Committee shall establish such rules, regulations and procedures as it determines appropriate and reasonably necessary for it to undertake its duties and responsibilities as set forth in this Charter The Committee shall maintain appropriate procedures to ensure accurate meeting agendas and minutes are prepared and filed in draft form as soon as practicable, with such meet jiffys presented to the Committee for approval at the next regularly schedule Committee Meeting.Such meeting agendas and minutes shall be filed in the Committee Minute Book upon approval The Committee shall have the sole authority to engage any consultants, legal counsel or advisors to provide services the Committee deems necessary and advisable to carry out the foregoing responsibilities, to approve all of the terms of such escort including compensation, and to terminate any such engagement (Nordstrom, 2008) While talking about compensation, here is an example of how much Blake W. Nordstrom makes out of Nordstroms sales. Blake W. Nordstrom has been CEO of Nordstrom for eight years and has been with the company for 34 years. He is 47 years old and ranks 11 within retailing. Blake W. Nordstroms total Compensation is 8. 15 million dollars thus his five-year compensation 21. 21 million dollars. 6-Year Annual Total Return20% 6-Year Return Relative to Industry112 6-Year Return Relative to Market118Blake W Nordstroms Compensation Vs. Retailing Medians Salary $0. 70 mil $1. 01 mil motivator NA $0. 84 mil Other $0. 07 mil $1. 06 mil derivation Gains $0. 71 mil $0. 00 mil Total Compensation$1. 47 mil $4. 39 mil Nordstrom has different types of compensation for its employees. For example, when someone works at Nordstrom they get 40 percent off on all store merchandise. They also do rec ognitions such as employee of the month. Since Nordstrom is a retail store, employees get special incentive programs and they also work for commission which gives employees an incentive to work harder and sell more resulting in them earning more money.Employees also get recognition awards that recognize individual employees for their performance or service. Benefits Nordstrom is a respectable company to work for because an employee receives a strong benefits package. In addition, they ranked 72nd in the list of the top companies to work for, and use to be at the 36th place. Even with the bad economy, no cuts were made in pay or benefits for their employees. Nordstrom state, as a Nordstrom employee, you should feel confident that your health and well-being are among our highest priorities. To that end, Nordstrom offers comprehensive, flexible benefits to our employees and their families. Below is a list of the different benefits offered at the company Health BenefitsMedical/Vision medical, vision and prescription drug coverage alveolar consonant basic preventive dental services and orthodontia Employee Assistance Program confidential consultations, information and referrals, 24 hours a day Income Protection emotional state redress financial protection in the event of a cover family members terminal Disability Program income replacement to assist you if you are unable to work due to disability Long-Term charge financial protection for you or an enrolled family member who can no protracted perform covered everyday activities Accidental Death and Dismemberment Insurance financial protection for you and your eligible family members in the event of accidental death or dismemberment Retirement Benefits 01(k) Plan defer a destiny of your pay as pre appraise deferrals, post-tax Roth deferrals or a combination of both. Nordstrom matches your deferral, dollar for dollar, up to 4% Profit Sharing share in the Companys success through Company contributions to your retirement account Flexible outgo Accounts Set aside pretax dollars to pay for eligible health care, dependent care and commuter expenses Time off Leave or Absence Program time away to recover from an illness, care for a family member or serve in the military Paid time off time off with pay for your personal and family needs Sabbatical program half a dozen week of unpaid time off to use any way you like Life/Work BenefitsMerchant Discount a 20% or 33% discount of regular employees and eligible dependents Group Legal Services access to local legal assistance for a wide range of services Group Home/Auto Insurance group, discounted restitution rates for auto, home, renters, and other personal property Discount and services/Work Stream Rewards discount on high-quality goods and services Resources and Referrals/Life Care counseling, education and referral services to help you make life decisions on everything from childcare and academics to financial services and retir ement Employee Stock Purchase Plan Purchase Nordstrom stock at a discount Additional Benefits and Services Direct restore Jury Duty Pay Nordstrom Bank Nordstrom Federal Credit nitty-gritty U. S. Savings Bonds Supporting the Environment In 2007, Nordstrom recognized the need to centralize existing efforts and created a multi-divisional group of leaders to come up with a comprehensive social responsibility strategy.In order to do so, they talked to the employees and some of the best customers to learn more about whats most important to them when it comes to social responsibility. They focus on the following areas Supporting Communities, Sustaining the Environment, Protecting Human Rights, and Caring for their people. Nordstrom hopes to develop stronger relationships with their customers and be a better global steward with this strategy. Nordstrom recognizes that the stores facilities make an environmental impact and for many years it has been involved in recycling, energy and pis s conservation and overall waste reduction. In 2008, Nordstrom formalized a commitment to the environment with the creation of social responsibility strategy.Its the company goal to reduce the impact on the environment by focusing on resource conservation, waste management, packaging and product innovations and organic cotton study, as well as incorporating sustainable options throughout their restaurants. The company is trying to improver recycling and decrease use of harmful chemicals and toxins. Across the stores and operations, Nordstrom is taking a closer look at how to reduce impact on the environment through innovations in sustainable merchandise, eco-friendly bags and boxes, and organic cotton development. As a fashion specialty retailer, Nordstrom sells branded merchandise from vendor partners and contract to manufacture private label products. The company has decided to focus on one issue directly related to what it does, and it now funds an organization that increase th e worlds supply of organic cotton.In addition, Nordstrom restaurants and coffee bars are finding ways to have a healthy impact on their customers, employees and the planet. From organic teas and Fair Trade coffee to nutritional labeling. Supporting Communities Although the environment is an important component of social responsibility, Nordstrom recognizes that social responsibility goes beyond comely being green. The companys financial support and involvement is important to the diverse communities it does business with. Therefore, its social responsibility strategy encompasses some of its existing practices in community bragging(a), the United Way and international development.Overall, the company wants to give back to the communities that believed in them. As outlined in its Contributions Guidelines, its community giving takes the form of cash contributions, community partnerships and volunteerism. The selected areas of focus are the arts and culture, education, health, commun ity development and the environment. Each year, Nordstrom donates millions of dollars to non-profits organization across the country. They also implemented the Nordstrom science Program, which supports education in most of the communities where it does business. In addition, Nordstrom has been a strong backer of the United Way for almost six decades.It also supports several global organizations and projects including the HER Project, Organic Exchange, and vendor education programs. Current Financial Summary Nordstrom operates egress stores in addition to department stores. Nordstrom Rack outlets appeal to customers who like the department store and the labels it carries but not necessarily the prices. Outlet shoppers visit to take advantage of bargains on items that did not sell at the department store or did not make it as far as the sales floor when a product line was discontinued. Recent financial results educe that, in the recession, outlets may be giving shoppers who are no t attached to indulge at their favorite luxury department stores an alternative where they can shop and still feel financially responsible.In March, Nordstroms beat analyst comparable store sales predictions, a relatively positive development despite the fact that those sales, generated in stores open for a year, were off by 13. 5 percent. Outlets helped mitigate greater softness elsewhere with comps at Nordstrom pressure up 0. 1 percent versus down 16. 9 percent at department stores. In the recession, Nordstrom has been adding rack locations not just to satisfy bargain hunters but also to take advantage of good real body politic deals that have been emerging. The rack has been a great vehicle to offer Nordstrom products at an off price as well as other products that consumers buy. Nordstrom, Inc. (NYSEJWN) report net earnings of $81 million, or $0. 7 per diluted share, for the first quarter ended May 2, 2009. For the same quarter last year, Nordstrom inform net earnings of $11 9 million, or $0. 54 per diluted share. Included in the 2009 first quarter results was a benefit of approximately $12 million, or $0. 06 per diluted share, related to the closure of the companys 2007 federal tax return audit. Excluding this benefit, 2009 first quarter net earnings were $69 million, or $0. 31 per share. Net sales in the first quarter were $1. 71 billion, a decrease of 9. 2 percent compared with sales of $1. 88 billion during the same period in fiscal 2008. First quarter same-store sales decreased 13. 2 percent compared with the same period in fiscal 2008.

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