Nordstrom, Inc. and subsidiaries  9
Our sales and customer relationships may be negatively impacted if we do not anticipate and respond to consumer preferences 
and fashion trends appropriately.
Our ability to predict or respond to constantly changing fashion trends, consumer preferences and spending patterns significantly impacts our 
sales and operating results. If we do not identify and respond to emerging trends in consumer spending and preferences quickly enough, we 
may harm our ability to retain our existing customers or attract new customers. If we purchase too much inventory, we may be forced to sell 
our merchandise at lower average margins, which could harm our business. Conversely, if we fail to purchase enough merchandise, we may 
lose opportunities for additional sales and damage our relationships with our customers.
The results of our Credit operations could be adversely affected by changes in market conditions. 
Our credit card revenues and profitability are subject in large part to economic and market conditions that are beyond our control, including, 
but not limited to, interest rates, consumer credit availability, consumer debt levels, unemployment trends and other factors. These economic 
and market conditions could impair our credit card revenues and the profitability of our credit card business due to factors such as lower 
demand for credit, or could impair ability to assess the creditworthiness of our customers if the criteria and/or models we use to underwrite 
and manage our customers become less predictive of future losses, causing our losses to rise and have a negative impact on our results of 
operations. Deterioration of economic conditions and consumer confidence may also adversely affect our credit customers’ payment patterns 
and delinquency rates, increasing our bad debt expense.
Our business and operations could be materially and adversely affected by supply chain disruptions, port disruptions, severe 
weather patterns, natural disasters, widespread pandemics and other natural or man-made disruptions. 
We derive a significant amount of our total sales from stores located on the west and east coasts of the United States, particularly in 
California, which increases our exposure to conditions in these regions. Similarly, merchandise received through west coast ports could be 
adversely impacted by labor disruptions. These disruptions could cause, among other things, a decrease in consumer spending that would 
negatively impact our sales, staffing shortages in our stores, distribution centers or corporate offices, interruptions in the flow of merchandise 
to our stores, disruptions in the operations of our merchandise vendors or property developers, increased costs, and a negative impact on 
our reputation and long-term growth plans. 
RISKS DUE TO LEGAL AND REGULATORY FACTORS
We are subject to certain laws, litigation, regulatory matters and ethical standards, and our failure to comply with or adequately 
address developments as they arise could adversely affect our reputation and operations. 
Our policies, procedures and practices and the technology we implement are designed to comply with federal, state, local and foreign laws, 
rules and regulations, including those imposed by the SEC and other regulatory agencies, the marketplace, the banking industry and foreign 
countries, as well as responsible business, social and environmental practices, all of which may change from time to time. Significant 
legislative changes, including those that relate to employment matters and health care reform, could impact our relationship with our 
workforce, which could increase our expenses and adversely affect our operations. In addition, if we fail to comply with applicable laws and 
regulations or implement responsible business, social, environmental and supply chain practices, we could be subject to damage to our