MIRA INFORM REPORT
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Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
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Name : |
NORDSTROM INC |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.01.2010 |
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Date of Incorporation : |
28.09.1946 |
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Com. Reg. No.: |
178071138 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Fashion Specialty Retailer |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2,500,000. |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Norstrom Inc |
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Address in the order: |
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Legal Name: |
NORDSTROM INC |
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Legal Address |
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Telephone: |
+1 (206)-628-2111 |
Registration Number : |
178071138 |
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Fax: |
+1 (206)-628-1795 |
Legal Form: |
Corporation for Profit |
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Email: |
N.A. |
Registered in: |
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Website: |
Date Created: |
1901 |
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Manager: |
Blake W Nordstrom, President |
Date Incorporated: |
September 28th, 1946 |
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Staff: |
48,000 |
Stock: |
218,020,643 |
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Value: |
No Par Value |
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Activity: |
Fashion specialty retailer |
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BANKS
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Name of the Bank |
NORWEST BANK |
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Name of the Bank |
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Name of the Bank |
BANK OF THE WEST |
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Name of the Bank |
STERLING NATIONAL BANK |
BUSINESS
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HISTORY |
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Nordstrom Inc, was founded in 1901 and is based in |
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PRINCIPAL ACTIVITY |
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Nordstrom, Inc., a fashion specialty retailer, provides apparel,
shoes, cosmetics, and accessories for women, men, and children in the Nordstrom, Inc. also provides a private label card, two Nordstrom VISA
credit cards, and a debit card for Nordstrom purchases. The credit and debit
cards feature a shopping-based loyalty program. The company also designs and contracts to manufacture private label
merchandise sold in its retail stores.
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Products/Services description: |
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The company offers a selection of brand name and private label
merchandise. It sells its products through various channels, including
'Nordstrom' full-line stores, 'Nordstrom Rack' off-price stores, 'Last
Chance' clearance stores, and 'Jeffrey' boutiques; and through catalog and
the Internet. |
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Sales are: |
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Retail |
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Brands: |
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The company is working with several brands. Among them: For All Mankind® Earth® GO SMiLE® Keds® John W. Nordstrom® Mustela® |
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Clients: |
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General Public |
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Operations area: |
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National, International, Local |
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The company imports from Worldwide |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
on grounds of confidentiality. |
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Competitors: |
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Saks Incorporated; Neiman-Marcus Co.; Dillard's, Inc.; The May
Department Stores Company; Federated Department Stores, Inc.; J.C. Penney
Corporation, Inc.; Sears, Roebuck and Co. |
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The subject employs 48,000 employee(s) |
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PAYMENTS |
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made on a 45 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The subject is headquartered at the above address with additional
locations throughout the |
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Branches: |
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The company has about 182 retail stores located in 28 states. |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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YES |
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Capital: |
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Breakdown % of Shares Held by All Insider and 5% Owners: 25% % of Shares Held by Institutional & Mutual Fund Owners: 63% % of Float Held by Institutional & Mutual Fund Owners: 84% Number of Institutions Holding Shares: 442 |
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Shareholders Parent Company(ies): |
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Nordstrom, Inc., is publicly traded at the NYSE under the ticker
"JWN". Major Direct Holders: Gittinger D Wayne Nordstrom Bruce A Nordstrom Blake W Nordstrom Erik B Nordstrom Peter E Top Institutional Holders Marsico Capital Management, Llc Vanguard Group, Inc. (The) Wellington Management Company, Llp State Street Corporation Ameriprise Financial, Inc. Fmr Llc Tiaa-Cref Investment Management, Llc Fisher Investments, Inc. Blackrock Institutional Trust Company, N.A. Bank Of New York Mellon Corporation Top Mutual Fund Holders College Retirement Equities Fund-Stock Account Vanguard Mid-Cap Index Fund Vanguard Total Stock Market Index Fund Vanguard 500 Index Fund Ariel Fund Vanguard Horizon Fund-Capital Spdr S&P 500 Etf Trust Pioneer Fund Vanguard Institutional Index Fund-Institutional Index Fd |
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Management: |
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Laurie M. Black, Executive Vice President and General Merchandise
Manager, Cosmetic Division Robert E. Campbell, Treasurer and Vice President, Investor Relations Linda Toschi Finn, Executive Vice President, Marketing James A. Howell, Vice President, Finance Kevin T. Knight, Executive Vice President; Chairman and Chief
Executive Officer of Nordstrom fsb, President of Nordstrom Credit, Inc. Michael G. Koppel, Executive Vice President and Chief Financial
Officer Daniel F. Little, Executive Vice President and Chief Administrative
Officer Scott A. Meden, Executive Vice President and President, Nordstrom Rack Jack H. Minuk, Executive Vice President and General Merchandise
Manager, Shoe Division Margaret Myers, Executive Vice President and General Merchandise
Manager, Accessories and Women's Specialized Divisions Blake W. Nordstrom, President Erik B. Nordstrom, Executive Vice President and President, Stores James F. Nordstrom, Jr., Executive Vice President and President,
Nordstrom Direct Peter E. Nordstrom, Executive
Vice President and President, Merchandising Robert B. Sari, Executive Vice President, General Counsel and
Secretary Loretta Soffe, Executive Vice President and General Merchandise
Manager, Women's Apparel Division Delena M. Sunday, Executive Vice President, Human Resources and
Diversity Affairs Mark J. Tritton, Executive Vice President and President, NPG David M. Witman, Executive Vice President and General Merchandise
Manager, Menswear and Kidswear Divisions Board of Directors: Phyllis J. Campbell: Independent Director Director since 2004 Chairman of the Pacific Northwest, JPMorgan Chase & Co. Enrique Hernandez Jr. Independent Director Director since 1997. Chairman of the Board since 2006 President and CEO, Inter-Con Security Systems, Inc. Robert G. Miller Independent Director Director since 2005 CEO, Albertson's LLC Blake W. Nordstrom Director since 2005 President, Nordstrom Inc. Erik B. Nordstrom Director since 2006 Executive Vice President and President, Stores Peter E. Nordstrom Director since 2006 Executive Vice President and President, Merchandising Philip G. Satre Independent Director Director since 2006 Former Chairman and CEO, Harrah's Entertainment, Inc. Robert D. Walter Independent Director Director since 2008 Founder and former Chairman and CEO, Cardinal Health, Inc. Alison A. Winter Independent Director Director since 2001 CEO and Founder, |
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Related Companies: |
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Nordstrom fsb ( Nordstrom Credit Card Receivables II, LLC ( Nordstrom Credit, Inc. ( N2HC, Inc. ( |
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Financials - COMMERCIAL TRENDS AND FORECAST
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The subject is a public company traded at the NYSE under ticker symbol
"JWN". Please find enclosed the financial statements. |
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Legal Fillings |
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There are several UCC* files listed with
the Secretary of State of Washington. The company is defendant in various
pending lawsuits and proceedings and is subject to various other claims
arising in the normal course of its business. Although the outcome of these
lawsuits and proceedings cannot be predicted with certainty at this time, it
is believed that the ultimate disposition of such suits will not have a
material adverse effect on the company. The last annual report was filed on March
22, 2010. The company is implicated in a Derogatory
Payment: Account was placed for collection with
RECEIVABLE MANAGEMENT SERVICES on 10/2010 due to unpaid balance of $188.00.
Last reported on 12/07/2010. Account remains open with the agency, but no
monies have been collected. For information: The Uniform Commercial Code (UCC) is one
of a number of uniform acts that have been promulgated in conjunction with
efforts to harmonize the law of sales and other commercial transactions in
all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured transaction
by filing a public notice (financing statement) with a particular filing
office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a Correct credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This company has 109 years of experience
in the business. It has a staff of 48,000 employees which makes it a large
sized company. It is publicly traded at NYSE under ticker symbol
"JWN". The profitability is correct, and payments
are regular. However, the company's indebtedness is medium. Indeed, the
company's liabilities are not covered by the company's net worth. Nevertheless, regarding the company's
correct profitability year after year, we believe that the business still has
the ability and capacity to bear a credit line in the range of USD 2,500,000. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
MEDIUM |
Payments |
REGULAR |
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Cash |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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1 |
Rs.73.04 |
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Euro |
1 |
Rs.61.43 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.