|
NORDSTROM NAMES NEW PRESIDENT OF FULL LINE STORE GROUP
SEATTLE - Sept. 11, 2000 - Nordstrom, Inc. (NYSE: JWN) today announced the appointment of Executive Vice President Pete Nordstrom to president of its full line store group. Marty Wikstrom, former president of the full line store group, resigned from the company Friday after declining another position within the full line store group.
"I speak for the whole company when I say I am deeply grateful for the contributions Marty Wikstrom made to Nordstrom as a leader, and most recently for the work she accomplished in the full line store group," said Nordstrom Inc. President Blake Nordstrom. "However, I believe that a change at that level was necessary to allow for additional progress to be made."
Acting with support from the company’s board of directors, Blake Nordstrom selected Pete Nordstrom for the position because of his extensive merchandising experience and leadership capabilities. "Pete brings with him a rich knowledge of the business and is an innovative merchant. He has an unwavering commitment to serving the customer and empowering our employees," said Blake Nordstrom.
Pete Nordstrom, age 38, was previously executive vice president of merchandising and strategy in the full line store group and was responsible for children’s apparel, cosmetics, junior apparel, lingerie, hosiery, men’s apparel and women’s active wear.
"I’m excited to take on this new challenge," said Pete Nordstrom. "We have incredibly talented people in our stores and I look forward to working closely with them to provide our customers the best merchandise, which is the best customer service we can give."
Pete Nordstrom brings extensive experience from a variety of areas to his new position. He began his career in 1978, working as a stockperson and salesperson during high school and college. He has been a buyer and merchandise manager for Women’s Shoes, and a store manager. In 1991 he was promoted to regional manager of the Orange County, Calif. region. In 1995 Pete, along with his five brothers and cousins, were named co-presidents of Nordstrom. As co-president, Pete’s responsibilities included sales promotion, human resources, diversity affairs, junior and children’s apparel, lingerie, active wear and hosiery. After the office of the co-presidency was eliminated in February of 2000, he joined the full line store group as executive vice president of merchandising and strategy.
Wikstrom, age 43, joined Nordstrom in 1981 as a salesperson. She was a buyer, store manager and regional manager. In 1991 she was named vice president and general manager of the company’s Capital region in Wash. D.C. and assumed responsibility for the East Coast region in 1997. She was named president of the full line store business unit in May 1999.
Separately, the company announced the departure of Chief Information Officer Richard Lennon. Lennon joined Nordstrom in February 2000 from BrownForman Corp., and was responsible for information technology and systems. A successor for Lennon has yet to be named.
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers with 114 stores in 23 states, including 75 full-line stores, 33 Nordstrom Racks, three Façonnable boutiques, two free-standing shoe stores, and one clearance store. The company also serves customers through its online presence at http://www.nordstrom.com as well as with its direct mail catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
Certain statements in this news release contain ”forward-looking” information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including anticipated store openings and distribution channels, planned capital expenditures, and trends in company operations. Actual future results and trends may differ materially depending upon a variety of factors including, but not limited to, the company’s ability to source and manage appropriate inventory, predict fashion trends and consumer apparel buying patterns, and control costs and expenses; weather conditions; hazards of nature such as earthquakes and floods; trends in personal bankruptcies and bad debt write-offs; employee relations; the company’s ability to continue its expansion plans; and the impact of economic and competitive market forces. The company’s SEC reports may contain other information on these and other factors which could affect our financial results and cause actual results to differ from any forward-looking information we may provide.
|
Media Contact:
Paul Weigand
(206) 373-3036 |
|
|
Investor Contact:
Bob Adams
(206) 373-4034 |
|