Nordstrom Inc was founded in 1901 as a retail shoe business in Seattle, Washington. The Company is a leading fashion retailer that offers an extensive selection of high-quality brand-name and private-label merchandise for women, men, young adults, and children focused on apparel, shoes, beauty, accessories, and home goods. They offer brand-name and private-label merchandise across digital and physical assets in both their Nordstrom and Nordstrom Rack banners. Their facilities and stores are located in 40 states in the U.S. and three provinces in Canada. Their Retail reportable segment aggregates to two operating segments(treated as one segment), Nordstrom and Nordstrom Rack. Nordstrom consists of Nordstrom.com, TrunkClub.com, Nordstrom-branded U.S. stores, Canada, which includes Nordstrom.ca, Nordstrom Canadian stores and Nordstrom Rack Canadian stores, and Nordstrom Local. Nordstrom Rack consists of NordstromRack.com, Nordstrom Rack-branded U.S. stores, Last Chance clearance stores, and prior to the first quarter of FY2021, HauteLook.com. In FY2021, Nordstorm had a total of 356 stores of which 168 stores were broadly under Nordstrom and 242 stores were under Nordstrom Rack.
In FY2020, as part of the optimization of the mix of physical and digital assets to align with longer-term customer trends, Nordstorm closed 16 Nordstrom stores, 6 Trunk Club clubhouses, and 3 Jeffrey boutiques in the first half of the year. This bought the store count from 380 in FY2019 to 358 stores in FY2020.
In FY2021, Nordstrom had 356 stores in total, of them Nordstrom includes Nordstrom.com website and mobile application, TrunkClub.com, Nordstrom.ca, 94 Nordstrom stores in the US, 6 Nordstrom stores, 7 Nordstrom Rack stores in Canada, and 7 Nordstrom Locals while the segment Nordstrom Rack includes NordstromRack.com website and mobile application, HauteLook.com (prior to the first quarter of 2021), 240 Nordstrom Rack stores in the U.S. and two Last Chance clearance stores.
The total company net sales increased by 39.1% YoY in FY2021 compared to FY2020. This increase was primarily due to the impacts of COVID-19 and the related temporary store closures for approximately three months during the year 2020. During FY2021, Nordstorm opened one and closed three Nordstrom Rack stores. The top-performing merchandise categories were Men’s Apparel, Designer, and Active during the year compared to FY2020.
With continued growth in digital sales, Nordstrom’s total penetration increased by 10% in FY2021 over the past two years to 42%. In the fourth quarter of FY2021, there was a record-high mobile app usage, with mobile users representing approximately 70% of total digital traffic.
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