21 Feb '12, 2am

Finally: After 26 Million Customer Losses To Zappos, Nordstrom's "Gets" The Web and Hopefully Shoes

Finally: After 26 Million Customer Losses To Zappos, Nordstrom's "Gets" The Web and Hopefully Shoes

"It was a good year all around for upscale department store chain Nordstrom Inc., but it was the direct business that scored the biggest sales increase. In fact with a growing direct business, which is virtually all online, Nordstrom, No. 34 in the Internet Retailer Top 500 Guide will spend almost $1 billion over the next five years to continue to support its e-commerce infrastructure, chief financial officer Michael Koppel told Wall Street analysts on the company’s recent year-end earnings call." "With its direct and e-commerce channel growing, over the next five years about 30%—$990 million—of the company’s planned $3.3 billion in capital expenditures will be spent on further developing its Internet infrastructure, Koppel said. “Our current five-year capital plan is approximately $3.3 billion,” Koppel told analysts. “About 60% of our plan is for new stores and remodels. ...

Full article: http://fragerfactor.blogspot.com/2012/02/finally-nordstro...

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