1617 Sixth Ave., Suite 500
Seattle, Wash. 98101
206-628-2111; fax 206-628-1795
Employees: 43,000
Nordstrom as of July 11, 2000 operated 77 large specialty stores across the country,
including one at Providence Place, 39 stores operating as Nordstrom Rack, two
freestanding shoe stores in Hawaii, and three specialty boutiques operating under
the name Faconnable. The company also operated 20 Facconable stores in Europe.
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The company announced in July it would open a Nordstrom Rack store in Ontario
Mills in Ontario, Calif. For the quarter that ended April 30, the company reported
sales of $1.22 billion, up 6 percent, and net income of $24.8 million, down 25
percent.
Stock Information
Exchange: NYSE
Symbol: JWM
Annual meeting: May 15, 2001
Shares of common stock outstanding as of July 9, 2001: 134,000,000
Stock price as of Wednesday, July 11, 2001: $18.20
Market value as of Friday, July 13, 2001: $2,438,800,000
12-month high stock price: $25.38
12-month low stock price: $14.00
Operating Results
(dollars in thousands, except per share data)
| For the years ending Jan. 31, |
2000
|
1999
|
| Net sales |
$5,528,537
|
$5,149,266
|
| Net earnings |
101,918
|
202,557
|
| Net income per share |
0.78
|
1.47
|
| Total assets |
3,608,503
|
3,062,081
|
| Long-term debt |
1,099,710
|
746,791
|
Directors
D. Wayne Gittinger, 68, director since 1971, partner in the law firm
of Lane Powell Spears Lubersky. Shares: 10,500,866
Enrique Hernandez, Jr., 45, director since 1997, president and chief
executive officer of Inter-Con Security Systems, Inc. Shares: 3,635
John A. McMillan, 69, director since 1966, retired, former co-chairman
of the company’s board of directors. Shares: 292,533
Bruce A. Nordstrom, 67, director since 1966, chairman of the company’s
board of directors. Shares: 10,799,513
John N. Nordstrom, 64, director since 1966, retired, former co-chairman
of the company’s board of directors. Shares: 3,511,714
Alfred E. Osborne, Jr., 56, director since 1987, director of the Harold
Price Center for Entrepreneurial Studies and associate professor of business
economics, The Anderson School at UCLA. Shares: 10,563
William D. Ruckelshaus, 68, director since 1985, a strategic director
of Madrona Venture Group, a Washington-based investment firm. Shares: 15,713
Bruce G. Willison, 52, director since 1998, dean of the Anderson School
at UCLA. Shares: 5,201
Alison A. Winger, 54, director since 2001, executive vice president for
Midwest Personal Financial Services with the Northern Trust Corp. Shares: 1,300
Directors’ fees
Non employee directors get an annual retainer of $29,000, plus $1,000 for each
board of directors meeting attended.
Institutional ownership
Dodge & Cox Inc., 12,906,128 shares;
Barclays Bank Plc, 3,759,243 shares;
Strong Capital Management, Inc., 3,659,500 shares;
Wells Fargo Bank, 2,990,823 shares;
Zurich Scudder Investments, Inc., 2,837,386 shares.
Executive compensation
|
Fiscal Year
|
2001
|
2000
|
|
Blake W. Nordstrom, president
|
$458,801
|
$406,568
|
|
Gail A. Cottle, executive vice president
|
$533,712
|
$493,277
|
|
Dale Cameron, executive vice president
|
$522,813
|
$430,767
|
|
Michael G. Koppel, vice president
|
$388,976
|
$271,670
|
| Peter E. Nordstrom, executive vice president |
$367,610
|
$401,070
|
| John J. Whiteacre, former chairman of the board (1) |
$462,879
|
$643,855
|
| Michael A. Stein, former executive vp (2) |
$1,209,655
|
$843,332
|
| Martha A. Wistrom, former executive vp (3) |
$433,725
|
$413,701
|
(1)Whiteacre was terminated on August 31, 2000. His compensation does not include
$4,100,000 he received upon termination of employment.
(2) Stein was terminated on August 31, 2000. His compensation does not include
$1,040,000 he received upon termination of employment; $1,105,000 in connection
with forgiveness of a loan from the company; $807,836 in connection with the company’s
payment of his income tax liability relative to the loan forgiveness; and $2,142,000
representing the value of restricted stock that vested upon his termination of
employment from the company.
(3) Wikstrom was terminated on Sept. 8, 2000. Her compensation does not include
$1,500,000 she received upon termination of employment and $84,505 in connection
with forgiveness of a loan from the company to her.
*Executive compensation includes salary, bonuses, and other compensation, including
life insurance, cash profit sharing and other payments.
Source: Proxy statement, annual report, quarterly reports, and
other PBN research
