Nordstrom is a U.S. fashion retailer selling apparel, shoes, beauty products, accessories, and home goods through two banners. The Nordstrom full-price banner operates 92 full-line stores plus Nordstrom.com, offering curated premium and well-known brands alongside personalized in-store services. The Nordstrom Rack off-price banner operates 277 stores plus NordstromRack.com, selling the same brands carried at full-price stores at discounted prices. The full-price banner generates roughly two-thirds of revenue; Rack generates the remaining third and is growing faster. Digital sales represent roughly 34–37% of total revenue. Nordstrom sells directly to consumers through stores and digital channels, with its Nordy Club loyalty program driving nearly 70% of total sales. Profitability hinges primarily on regular-price sell-through — selling merchandise before markdowns — as well as inventory productivity and brand curation. Customers who shop across both banners and both channels spend significantly more than single-channel customers, and Nordstrom shares supply chain, technology, and loyalty infrastructure across both banners. Rack new store openings are the primary growth driver, generating mid-to-high-teens returns on invested capital, and Nordstrom targets 20–25 new Rack openings annually. Nordstrom also earns a small share of revenue from co-branded credit cards issued by TD Bank. In December 2024, the Nordstrom family and Mexican retailer Liverpool agreed to take the company private at $24.25 per share, with the deal expected to close in the first half of 2025.