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Module Three: Nordstrom Executive Memo
MBA 640
Executive Memo
Date: 7/13/2020
To: Blake W. Nordstrom, Co-President & Principal Executive Officer
Michael G. Koppel, Executive Vice President & Chief Financial Officer
From: Shawanda Cobb
Subject: Expansion Opportunity for Nordstrom Inc.
Reason note to describe the possibility of the expansion of Nordstrom, Inc. In the Asian market to ` 1qlook for financing is an integral part of it. This growth is likely to Nordstrom to amplify the already on-line presence by including brick-and-mortar shops in carefully selecting markets for Asia. This brick-and-mortar shops should include all Nordstrom and Nordstrom Rack manufacturer, the largest achieve in some socio-economic sectors of these populations. Because the agency already has nearly four hundred non-public Label Graphics manufacturing amenities placed at some point in China, India, Bangladesh, Vietnam retail growth in this market that will allow the company to similarly expand its efforts to provide back to the communities where they are placed.
This expansion comes immediately after the company’s wildly profitable growth in the Canadian market, would be financially sound the next step and will hold the agency in line with the different core areas who have help internationally in recent years. With the firm intention to achieve $ 20 million in income by using 2020, this tension can help make this reality.
According to the company’s 2015 Corporate Social Responsibility Report, Nordstrom is a “leading trend impose retail” which is the center of attention on “providing incredible service, selection, exceptional and value” (Nordstrom, Inc., 2016). This growth will enable the organization to carry the company’s own direction and supply the identical excessive stage of purchaser carrier to a wider market from the world market.
As mentioned earlier, this will allow Nordstrom to stay competative with the market trend opponents such as Macy’s, which has improved in the global market, it is expected the opening of the first store later in the year 2017
While the branch store market has been affected a lot in recent years, Nordstrom has produced a boom in accordance with the understanding between Nordstrom and Macy’s implemented through the Nick Patterson from Seeking Alpha, Nordstrom was a “stronger stability sheet to allow him additional flexibility in the modern-day uncertainty in the market” (Patterson, 2016). Evaluation of offers Nordstrom clear benefit due to the fact of their ability to pass the stock from the full-price store on their bargain store Nordstrom Rack.
Many Asian international locations welcomed the Western Waves of different North American brands, many of these markets in establishing international locations with excessive return on funding potential. Currently nearly 60% of China’s entire population stay in urban areas, the United States skilled fixed boom the price of the tour is 6.5%, the United States of America have pledged to work towards the load of financial growth, which makes it the likely option to enlarge.
Reference
Bailey, S. (2016, January 22). Macy’s International Growth: Bloomingdale’s to Open in Kuwait. Retrieved from Market Realist website: http://marketrealist.com/2016/01/macys-international-growth-bloomingdales-open-kuwait/
Nordstrom, Inc. . (2016). 2015 Corporate Social Responsibility Report. Retrieved from Nordstrom Cares: Nordstrom website: http://i.nordstromimage.com/images/default/shop/image/shops/cares/SOP.pdf
Patterson, N. (2016, July 12). Nordstrom Vs. Macy’s: Paying The Same Price for Very Different Stories. Retrieved from Seeking Alpha website: https://seekingalpha.com/article/3987825-nordstrom-vs-macys-paying-price-different-stories
The World Factbook: China. (2016). Retrieved from Central Intelligence Agency website: https://www.cia.gov/library/publications/the-world-factbook/geos/print_ch.html
