Pete Nordstrom on the Enduring Power of Retail’s ‘Best Mousetrap’

This year marks the 125th anniversary of Nordstrom — a company that began as a small shoe store in Seattle founded by a Swedish immigrant and has grown into a $16 billion retail juggernaut. At a moment when the American department store sector is under enormous pressure — with bankruptcies, consolidation and changing consumer behaviour reshaping the landscape — Nordstrom has taken a different path. Last year, the Nordstrom family partnered with Mexican retailer Liverpool to take the company private, a move Pete Nordstrom says allows the business to move faster and focus on the long term. ...