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John W. Nordstrom immigrated to the United States from Canada.
Answer: False
Explanation: John W. Nordstrom immigrated to the United States from Sweden, not Canada.
Nordstrom commenced its retail operations in 1901 as a full-line department store offering apparel and home goods from its inception.
Answer: False
Explanation: Nordstrom began its retail journey in 1901 exclusively as a shoe store, expanding into apparel and other goods much later.
Carl F. Wallin was the sole founder of Nordstrom, with John W. Nordstrom joining the enterprise at a later stage.
Answer: False
Explanation: Nordstrom was founded as a partnership between John W. Nordstrom and Carl F. Wallin; neither was the sole founder.
John W. Nordstrom primarily secured the initial capital for his business ventures through investments in the stock market.
Answer: False
Explanation: John W. Nordstrom acquired his initial capital through savings from work and earnings from his participation in the Klondike Gold Rush, not stock market investments.
What was the original name of the shoe store founded by John W. Nordstrom and Carl F. Wallin?
Answer: Wallin & Nordstrom
Explanation: The original shoe store founded by John W. Nordstrom and Carl F. Wallin was named Wallin & Nordstrom.
How did John W. Nordstrom primarily acquire the capital to start his first business ventures?
Answer: By saving money from work and earnings from the Klondike Gold Rush
Explanation: John W. Nordstrom accumulated his initial capital through savings from employment and profits derived from his prospecting activities during the Klondike Gold Rush.
The company officially adopted the name Nordstrom in 1930, following a significant renovation of its Second Avenue store.
Answer: True
Explanation: The company's name was officially changed to Nordstrom in 1930, coinciding with a major remodeling of its Second Avenue store.
Nordstrom expanded into selling apparel in 1963 by acquiring a chain of shoe stores located in California.
Answer: False
Explanation: Nordstrom expanded into apparel in 1963 by acquiring Best's Apparel of Seattle, not a chain of shoe stores in California.
Nordstrom became a publicly traded company on the New York Stock Exchange in 1971.
Answer: False
Explanation: Nordstrom became a public company in 1971, initially listed on NASDAQ. It moved to the New York Stock Exchange in 1999.
The ticker symbol JWN, used on the NYSE, honors Nordstrom's first CEO, Bruce A. Nordstrom.
Answer: False
Explanation: The ticker symbol JWN honors the company's founder, John W. Nordstrom, not its first CEO, Bruce A. Nordstrom.
The earliest known Nordstrom logo mentioned in the text was used from 1991 to 2000.
Answer: False
Explanation: The earliest known Nordstrom logo mentioned was used from 1973 to 1991, not 1991 to 2000.
The Nordstrom family played a minimal role in the company's transition to being publicly traded.
Answer: False
Explanation: The Nordstrom family was instrumental in the company's growth and its transition to being publicly traded, maintaining significant influence and ownership.
Nordstrom's move to the New York Stock Exchange occurred in 1999 under the ticker symbol Nordstrom (NDM).
Answer: False
Explanation: Nordstrom moved to the New York Stock Exchange in 1999, but the ticker symbol used was JWN, honoring founder John W. Nordstrom, not NDM.
In what year did Nordstrom begin selling clothing, marking its expansion beyond shoes?
Answer: 1963
Explanation: Nordstrom expanded into selling apparel in 1963, marking a significant diversification beyond its initial focus on footwear.
When did Nordstrom become a publicly traded company?
Answer: 1971
Explanation: Nordstrom became a publicly traded company in 1971.
What is the ticker symbol Nordstrom has used on the New York Stock Exchange since 1999?
Answer: JWN
Explanation: Since 1999, Nordstrom has utilized the ticker symbol JWN on the New York Stock Exchange, honoring its founder, John W. Nordstrom.
What is the historical significance of the ticker symbol JWN?
Answer: It is named after the company's founder, John W. Nordstrom
Explanation: The ticker symbol JWN holds historical significance as it is named after Nordstrom's founder, John W. Nordstrom.
What was the significance of the 1971 event for Nordstrom?
Answer: The company became publicly traded
Explanation: The year 1971 was significant for Nordstrom as it marked the company's transition to becoming publicly traded.
Nordstrom Rack was initially established as a standalone store in a different city before being integrated into the flagship Seattle store.
Answer: False
Explanation: Nordstrom Rack originated as a bargain basement within the downtown Seattle flagship store in 1973, not as a separate store in another city.
Nordstrom Local service hubs are designed to carry their own extensive inventory of merchandise.
Answer: False
Explanation: Nordstrom Local service hubs are intentionally designed not to carry their own inventory; they focus on providing services like online order pickup and personal styling.
Nordstrom's product offerings are limited solely to women's and children's apparel.
Answer: False
Explanation: Nordstrom offers a wide array of products, including men's and children's apparel, footwear, accessories, cosmetics, home furnishings, and more, extending far beyond just women's and children's apparel.
The "Place Two" division was discontinued because it was consistently unprofitable.
Answer: False
Explanation: The "Place Two" division was discontinued primarily due to the significant costs associated with upgrading its systems and stores, rather than consistent unprofitability.
The "Treasure & Bond" store concept involved donating all profits to charity.
Answer: True
Explanation: The "Treasure & Bond" store concept was characterized by its commitment to donating all profits to charitable causes.
Nordstrom operates Last Chance clearance stores that sell merchandise not sold at Nordstrom or Nordstrom Rack.
Answer: True
Explanation: Nordstrom does operate Last Chance clearance stores, which are designated for merchandise that could not be sold through Nordstrom or Nordstrom Rack channels.
What is the primary function of Nordstrom Local service hubs?
Answer: To offer services like online order pickup and personal styling without carrying inventory
Explanation: The primary function of Nordstrom Local service hubs is to provide customer services such as online order pickup, personal styling, and tailoring, without maintaining their own inventory.
Which of the following is NOT listed as a product category offered by Nordstrom?
Answer: Automotive parts
Explanation: Nordstrom offers a wide range of products including appliances, home furnishings, and fragrances, but automotive parts are not listed as a product category.
What was the "Place Two" division of Nordstrom?
Answer: A chain of stores selling a limited selection of apparel in smaller markets
Explanation: The "Place Two" division consisted of a chain of stores designed to offer a limited selection of apparel in smaller markets.
Which of the following retail formats was discontinued by Nordstrom?
Answer: Place Two
Explanation: The "Place Two" division, a chain of stores selling a limited selection of apparel in smaller markets, was discontinued by Nordstrom.
What was unique about the "Treasure & Bond" store opened by Nordstrom in New York City?
Answer: All profits were donated to charity
Explanation: The "Treasure & Bond" store was unique in that all of its profits were donated to charity.
What type of merchandise is specifically sold at Nordstrom's "Last Chance" stores?
Answer: Merchandise not sold at Nordstrom or Nordstrom Rack, including expired Rack returns
Explanation: Nordstrom's "Last Chance" stores sell merchandise that has not been sold at Nordstrom or Nordstrom Rack, including items such as Nordstrom Rack returns that exceed the standard return policy.
Which of the following is NOT a retail format operated by Nordstrom?
Answer: Nordstrom Outlet Mall
Explanation: Nordstrom operates full-line department stores, Nordstrom Rack, Nordstrom Local service hubs, and Last Chance clearance stores, but not a format identified as "Nordstrom Outlet Mall."
What is the primary difference between Nordstrom stores and Nordstrom Rack stores?
Answer: Nordstrom stores are full-line department stores, while Rack stores are off-price retailers.
Explanation: The primary distinction is that Nordstrom stores are full-line department stores offering a broad selection, whereas Nordstrom Rack stores operate as off-price retailers selling discounted merchandise.
What was the stated intention behind opening the "Treasure & Bond" store in SoHo, New York?
Answer: To test the market and appeal to a younger demographic
Explanation: The "Treasure & Bond" store was opened with the intention of testing the market and appealing to a younger demographic.
Nordstrom entered the e-commerce market before launching its catalog division.
Answer: False
Explanation: Nordstrom first established a catalog division in 1993, and subsequently launched its e-commerce business, Nordstrom.com.
Nordstrom Bank was established in 1999, coinciding with the company's move to the NYSE.
Answer: False
Explanation: Nordstrom Bank (Nordstrom FSB) was established in 1991, predating the company's move to the New York Stock Exchange in 1999.
The acquisition of HauteLook in 2011 was intended to bolster Nordstrom's physical store presence in the Midwest.
Answer: False
Explanation: The acquisition of HauteLook was strategically aimed at enhancing Nordstrom's digital presence and expanding its online offerings, not its physical store footprint in the Midwest.
Nordstrom committed to no longer selling fur or exotic skins by the end of 2021.
Answer: True
Explanation: Nordstrom announced its commitment to cease selling products made from fur or exotic skins by the end of 2021.
Nordstrom partnered with Tesla Motors in 2016 to open electric vehicle charging stations in its stores.
Answer: False
Explanation: In 2016, Nordstrom partnered with Tesla Motors to open retail galleries within select Nordstrom locations, not for electric vehicle charging stations.
Nordstrom's decision to stop carrying the Ivanka Trump fashion line in 2017 was met with widespread praise from the public.
Answer: False
Explanation: Nordstrom's decision to cease carrying the Ivanka Trump fashion line led to public criticism from President Donald Trump via Twitter, rather than widespread public praise.
Nordstrom has been recognized as a Hall of Fame member for Fortune magazine's "100 Best Companies to Work For."
Answer: True
Explanation: Nordstrom has indeed been recognized as a Hall of Fame member by Fortune magazine for its consistent inclusion in the "100 Best Companies to Work For" list.
Lloyd W. Nordstrom was the primary owner of the Seattle Seahawks when the franchise was initially secured.
Answer: False
Explanation: Lloyd W. Nordstrom represented the Nordstrom family as the majority partner in the consortium that secured the Seattle Seahawks franchise, rather than being the sole primary owner.
The Nordstrom Anniversary Sale offers discounts primarily on merchandise from the previous season.
Answer: False
Explanation: The Nordstrom Anniversary Sale focuses on offering discounts for merchandise from the upcoming fall season, not the previous season.
The Nordstrom Way to Customer Service Excellence is a marketing slogan used by the company.
Answer: False
Explanation: The phrase "The Nordstrom Way to Customer Service Excellence" refers to a book highlighting the company's customer service philosophy, not a marketing slogan.
The Nordstrom Anniversary Sale provides early access to discounts for all customers, regardless of loyalty program status.
Answer: False
Explanation: Early access to the Nordstrom Anniversary Sale discounts is provided to loyalty program members who make appointments, not to all customers universally.
When did Nordstrom launch its e-commerce business, Nordstrom.com?
Answer: After establishing its catalog division in 1993
Explanation: Nordstrom launched its e-commerce business, Nordstrom.com, after establishing its catalog division in 1993.
What services does Nordstrom Bank (Nordstrom FSB) offer?
Answer: Banking and credit products like credit cards and checking accounts
Explanation: Nordstrom Bank offers banking and credit products, including credit cards and checking accounts, often integrated with its customer loyalty programs.
What was the strategic purpose behind Nordstrom's acquisition of HauteLook in 2011?
Answer: To enhance its digital presence and online offerings
Explanation: The acquisition of HauteLook in 2011 was a strategic move to bolster Nordstrom's digital presence and expand its online retail capabilities.
What significant business decision did Nordstrom make regarding product sourcing by the end of 2021?
Answer: Stopped selling products made from fur or exotic skins
Explanation: By the end of 2021, Nordstrom made the significant decision to cease selling products derived from fur or exotic skins.
What was the nature of the partnership between Nordstrom and Tesla Motors in 2016?
Answer: Tesla opened retail galleries inside select Nordstrom locations
Explanation: In 2016, Nordstrom partnered with Tesla Motors, which involved Tesla opening retail galleries within select Nordstrom stores.
What was the consequence of Nordstrom's decision to cease carrying the Ivanka Trump fashion line in 2017?
Answer: President Donald Trump publicly criticized Nordstrom via Twitter
Explanation: Following Nordstrom's decision to stop carrying the Ivanka Trump fashion line, President Donald Trump publicly criticized the retailer on Twitter.
What is the main purpose of the Nordstrom Anniversary Sale?
Answer: To offer discounts on merchandise for the upcoming fall season
Explanation: The main purpose of the Nordstrom Anniversary Sale is to provide discounts on merchandise that will be released for the upcoming fall season.
What business decision did Nordstrom make regarding fur and exotic skins by the end of 2021?
Answer: Stopped selling products made from fur or exotic skins
Explanation: By the conclusion of 2021, Nordstrom made the decision to cease the sale of products derived from fur or exotic skins.
Which of the following is true about the Nordstrom Anniversary Sale?
Answer: Early access is provided to loyalty program members who make appointments.
Explanation: A key feature of the Nordstrom Anniversary Sale is that early access to discounts is granted to loyalty program members who schedule appointments.
Blake Nordstrom served as the sole President of Nordstrom until 2014, after which Erik Nordstrom took over the role.
Answer: False
Explanation: Blake Nordstrom served as sole President until 2014, but was succeeded by Erik Nordstrom and Peter Nordstrom as co-Presidents. Erik Nordstrom later became the sole CEO in March 2020.
The Nordstrom family successfully took the company private in a deal finalized in 2017.
Answer: False
Explanation: The Nordstrom family's attempt to take the company private in 2017 was suspended due to difficulties in securing financing.
In fiscal year 2019, digital sales represented less than 20% of Nordstrom's total sales.
Answer: False
Explanation: In fiscal year 2019, digital sales accounted for 33% of Nordstrom's total sales, which is significantly more than 20%.
The 2024 deal to take Nordstrom private involved selling a majority stake to El Puerto de Liverpool.
Answer: False
Explanation: The 2024 deal involved selling a 49.9% stake to El Puerto de Liverpool, while the Nordstrom family retained a 50.1% controlling stake, meaning they did not sell a majority stake to Liverpool.
The 2024 deal to take Nordstrom private was valued at approximately $15 billion.
Answer: False
Explanation: The 2024 deal to take Nordstrom private was valued at $6.25 billion, not $15 billion.
Nordstrom reported US$15.02 billion in revenue for the fiscal year 2024.
Answer: True
Explanation: For the fiscal year 2024, Nordstrom reported revenues amounting to US$15.02 billion.
Who assumed senior roles in Nordstrom's management in 2000, marking a transition in family leadership?
Answer: The sons of Bruce A. Nordstrom
Explanation: In 2000, the sons of Bruce A. Nordstrom assumed senior management roles, signifying a transition in family leadership.
What was the primary reason cited for the suspension of the Nordstrom family's 2017 attempt to take the company private?
Answer: Difficulty in securing financing due to high interest rates
Explanation: The primary reason cited for suspending the 2017 attempt to take the company private was the difficulty in securing financing, as lenders reportedly demanded higher interest rates.
What percentage of Nordstrom's total sales did digital sales account for in fiscal year 2019?
Answer: 33%
Explanation: In fiscal year 2019, digital sales constituted 33% of Nordstrom's total sales.
What was the financial value of the deal announced in December 2024 for Nordstrom to go private?
Answer: $6.25 billion
Explanation: The deal announced in December 2024 for Nordstrom to go private was valued at $6.25 billion.
What financial metric did Nordstrom report as US$294 million for 2024?
Answer: Net Income
Explanation: Nordstrom reported US$294 million as its Net Income for the fiscal year 2024.
What percentage of the stake in Nordstrom was sold to El Puerto de Liverpool in the December 2024 deal?
Answer: 49.9%
Explanation: In the December 2024 deal, 49.9% of the stake in Nordstrom was sold to El Puerto de Liverpool.
Which of the following financial metrics for Nordstrom in 2024 was reported as US$495 million?
Answer: Operating Income
Explanation: Nordstrom reported US$495 million as its Operating Income for the fiscal year 2024.
How did Nordstrom's digital sales perform in fiscal year 2019 relative to its total sales?
Answer: They accounted for 33% of total sales
Explanation: In fiscal year 2019, Nordstrom's digital sales accounted for 33% of its total sales.
What was the outcome of the Nordstrom family's attempt to take the company private in October 2017?
Answer: The efforts were suspended due to financing difficulties
Explanation: The Nordstrom family's attempt to take the company private in October 2017 was suspended due to challenges in securing the necessary financing.
What was the total equity reported for Nordstrom in 2024?
Answer: US$1.14 billion
Explanation: Nordstrom reported total equity of US$1.14 billion for the fiscal year 2024.
Nordstrom, Inc.'s corporate headquarters are located in Los Angeles, California.
Answer: False
Explanation: Nordstrom, Inc.'s corporate headquarters are situated in Seattle, Washington, not Los Angeles, California.
Nordstrom expanded into the Northeast region of the United States in 1988.
Answer: True
Explanation: Nordstrom's strategic expansion included entering the Northeast region of the United States in 1988.
Nordstrom's first store in New York State was opened in Manhattan.
Answer: False
Explanation: Nordstrom's initial store in New York State was located in White Plains, at The Westchester mall, not Manhattan.
The largest Nordstrom store, at 383,000 square feet, is located in Chicago.
Answer: False
Explanation: The largest Nordstrom store, measuring 383,000 square feet, is located in downtown Seattle, not Chicago.
Nordstrom closed its downtown Indianapolis store in 2011 due to a successful turnaround strategy.
Answer: False
Explanation: The downtown Indianapolis store was closed in 2011 due to declining business and a lack of significant improvement in the site's outlook, not because of a successful turnaround.
Nordstrom began its operations in Canada in 2004.
Answer: False
Explanation: Nordstrom commenced its operations in Canada in 2014, not 2004.
As of June 2023, Nordstrom operates more than ten flagship stores across the United States.
Answer: False
Explanation: As of June 2023, Nordstrom operates five flagship stores, not more than ten.
All Canadian Nordstrom stores, including Nordstrom Rack locations, ceased operations by the end of 2023.
Answer: False
Explanation: All Canadian Nordstrom stores ceased operations by June 13, 2023, which is before the end of 2023.
As of May 2022, full-line Nordstrom department stores average approximately 3,000 square feet.
Answer: False
Explanation: As of May 2022, full-line Nordstrom department stores average approximately 140,000 square feet; 3,000 square feet is the average size for Nordstrom Local service hubs.
Nordstrom's store in The Mall of San Juan, Puerto Rico, was permanently closed due to Hurricane Maria.
Answer: False
Explanation: Nordstrom's store in The Mall of San Juan, Puerto Rico, was permanently closed in May 2020 due to the COVID-19 pandemic, not Hurricane Maria.
Nordstrom's expansion into new regions in the late 20th century typically began with extensive market research before any store openings.
Answer: False
Explanation: Nordstrom's expansion strategy typically involved opening an initial store in a new region to serve as a base for training and recruitment, rather than extensive market research preceding all openings.
Nordstrom's first store in the Southeast region was opened in 1998 in Atlanta, Georgia.
Answer: True
Explanation: Nordstrom's inaugural store in the Southeast region was established in 1998 at Perimeter Mall in Atlanta, Georgia.
Nordstrom's flagship stores are generally larger than those of its main competitors.
Answer: False
Explanation: Nordstrom's flagship stores are described as considerably smaller than the flagship locations of many of its competitors.
Nordstrom's Canadian operations were profitable from their inception in 2014.
Answer: False
Explanation: Nordstrom's Canadian operations, launched in 2014, faced challenges with profitability and were eventually closed.
Nordstrom's smallest store, as of September 2008, was located in Portland, Oregon.
Answer: False
Explanation: As of September 2008, Nordstrom's smallest store was in Salem, Oregon, which has since closed; Portland was not specified as the location of the smallest store.
Nordstrom's downtown Seattle flagship store is housed in the former Frederick & Nelson building.
Answer: True
Explanation: The downtown Seattle flagship store is indeed located in the former Frederick & Nelson building.
Where is Nordstrom, Inc. headquartered?
Answer: Seattle, Washington
Explanation: Nordstrom, Inc. is headquartered in Seattle, Washington.
Where was Nordstrom's first store in New York State located?
Answer: White Plains
Explanation: Nordstrom's first store in New York State was located in White Plains.
What is notable about Nordstrom's largest store, located in downtown Seattle?
Answer: It is housed in the former Frederick & Nelson building and was renovated in 2016
Explanation: The largest Nordstrom store in downtown Seattle is notable for being housed in the former Frederick & Nelson building and undergoing a renovation in 2016.
When did Nordstrom announce the closure of all its Canadian stores?
Answer: March 2, 2023
Explanation: Nordstrom announced the closure of all its Canadian stores on March 2, 2023.
How are Nordstrom's flagship stores described in terms of size compared to competitors?
Answer: Considerably smaller than many competitors' flagships
Explanation: Nordstrom's flagship stores are characterized as being considerably smaller than the flagship locations of many of its competitors.
Which of the following was NOT a location for a Nordstrom store in Canada that utilized former Sears Canada storefronts?
Answer: Montreal
Explanation: While Nordstrom utilized former Sears Canada storefronts in locations like Calgary, Vancouver, and Ottawa, Montreal is not listed as one of these specific locations.
What is the average size of a full-line Nordstrom department store as of May 2022?
Answer: 140,000 square feet
Explanation: As of May 2022, full-line Nordstrom department stores have an average size of approximately 140,000 square feet.
What was the primary reason for the permanent closure of Nordstrom's store in The Mall of San Juan, Puerto Rico, in May 2020?
Answer: The COVID-19 pandemic
Explanation: The primary reason cited for the permanent closure of Nordstrom's store in The Mall of San Juan, Puerto Rico, in May 2020 was the impact of the COVID-19 pandemic.
How did Nordstrom's expansion into new regions in the late 20th century typically begin?
Answer: By opening an initial store to serve as a training and recruitment base
Explanation: Nordstrom's expansion into new regions typically commenced with the opening of an initial store, which then functioned as a base for staff training and recruitment for subsequent growth.
Which of the following is NOT mentioned as a type of restaurant found within Nordstrom stores?
Answer: Starbucks Reserve
Explanation: While Nordstrom stores feature various dining options like Bar Verde, Bistro Verde, and Cafe Bistro, Starbucks Reserve is not mentioned as one of the restaurant types found within their locations.
How many flagship stores did Nordstrom operate as of June 2023?
Answer: Five
Explanation: As of June 2023, Nordstrom operated five flagship stores.
What was the fate of Nordstrom's Canadian operations?
Answer: They were closed due to a lack of profitability
Explanation: Nordstrom's Canadian operations were ultimately closed due to a lack of profitability.
What is the average size of a Nordstrom Local service hub as of May 2022?
Answer: 3,000 square feet
Explanation: As of May 2022, Nordstrom Local service hubs average approximately 3,000 square feet.