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Our customer and employee relationships could be negatively affected if we fail to maintain our corporate culture and reputation.
We have a well-recognized culture and reputation that consumers may associate with a high level of integrity, customer service and quality 
merchandise, and it is one of the reasons customers shop with us and employees choose us as a place of employment. Any significant 
damage to our reputation could negatively impact sales, diminish customer trust, reduce employee morale and productivity and lead to 
difficulties in recruiting and retaining qualified employees.
The potential transaction related to our credit card receivables could adversely impact our business.
In May 2014, we announced that we are reviewing options for a financial partner for our credit card receivables. This review may not result in 
a consummated transaction, and further, could divert management’s attention away from our core Retail business, negatively impacting our 
execution on our customer strategy. If we do not successfully execute a transaction that meets our needs or fail to properly allocate our 
capital to maximize returns, our operations, cash flows and returns to shareholders could be adversely affected. Additionally, credit rating 
agencies may downgrade our business, which could adversely impact our operations and cash flows. Although we do not expect any change 
to the customer experience following a transaction, if such a transaction negatively impacts the customer service associated with our credit 
cards, this could harm our business and reputation, harming our competitive position.
The concentration of stock ownership in a small number of our shareholders could limit your ability to influence corporate matters.
We have regularly reported in our annual proxy statements the holdings of members of the Nordstrom family, including Bruce A. Nordstrom, 
our former Co-President and Chairman of the Board, his sister Anne E. Gittinger and members of the Nordstrom family within our Executive 
Team. In our proxy statement as of March 2, 2015, for the 2015 Annual Meeting of Shareholders, these individuals owned an aggregate of 
approximately 27% of our common stock. As a result, either individually or acting together, they may be able to exercise considerable 
influence over matters requiring shareholder approval. As reported in our periodic filings, our Board of Directors has from time to time 
authorized share repurchases. While these share repurchases may be offset in part by share issuances under our equity incentive plans and 
as consideration for acquisitions, the repurchases may nevertheless have the effect of increasing the overall percentage ownership held by 
these shareholders. The corporate law of the state of Washington, where the company is incorporated, provides that approval of a merger or 
similar significant corporate transaction requires the affirmative vote of two-thirds of a company’s outstanding shares. The beneficial 
ownership of these shareholders may have the effect of discouraging offers to acquire us, delay or otherwise prevent a significant corporate 
transaction because the consummation of any such transaction would likely require the approval of these shareholders. As a result, the 
market price of our common stock could be affected.
Investment and partnerships in new business strategies and acquisitions could disrupt our core business. 
We have invested in or are pursuing strategic growth opportunities, which may include acquisitions of, or investments in, other businesses, 
as well as new technologies or other investments to provide a superior customer shopping experience in our stores and online. Additionally, 
our business model will continue to rely more on partnerships with third parties for certain strategic initiatives and technologies. If these