Nordstrom, Inc. and subsidiaries  17
RESULTS OF OPERATIONS
Our reportable segments are Retail and Credit. Our Retail segment includes our U.S. Nordstrom branded full-line stores and online store, 
Nordstrom Rack stores, Nordstromrack.com and HauteLook and other retail channels, including Trunk Club, Jeffrey, our Canada store and 
our Last Chance clearance store. For purposes of discussion and analysis of our results of operations of our Retail Business, we combine 
our Retail segment results with revenues and expenses in the “Corporate/Other” column of Note 16: Segment Reporting in the Notes to 
Consolidated Financial Statements of Item 8: Financial Statements and Supplementary Data. We analyze our results of operations through 
earnings before interest and income taxes for our Retail Business and Credit, while interest expense and income taxes are discussed on a 
total company basis.
Similar to many other retailers, Nordstrom follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of 
2012 (the “53rd week”). The analysis of our results of operations, liquidity and capital resources compares the 52 weeks in 2013 to the 53 
weeks in 2012. However, the 53rd week is not included in comparable sales calculations. In 2012, the 53rd week contributed approximately 
$0.04 to earnings per diluted share.
RETAIL BUSINESS
Summary
The following table summarizes the results of our Retail Business for the past three years:
Fiscal year 2014 2013 2012
Amount
% of net
sales1 Amount
% of net
sales1 Amount
% of net
sales1
Net sales $13,110 100.0% $12,166 100.0% $11,762 100.0%
Cost of sales and related buying and
occupancy costs (8,401) (64.1%) (7,732) (63.6%) (7,427) (63.1%)
Gross profit 4,709 35.9% 4,434 36.4% 4,335 36.9%
Selling, general and administrative expenses (3,588) (27.4%) (3,272) (26.9%) (3,172) (27.0%)
Earnings before interest and income taxes $1,121 8.6% $1,162 9.6% $1,163 9.9%
1 Subtotals and totals may not foot due to rounding.