text: Our inventory turnover rate decreased to 5.07 times in 2013, from 5.37 times in 2012. This was primarily due to our increased investment in 
  pack and hold inventory at Nordstrom Rack, which helped fuel the growth in that channel. On a per square foot basis, we ended the year with 
  a 9.4% increase in our ending inventory on a 0.8% increase in sales compared with 2012. The increase in ending inventory per square foot 
  relative to the increase in sales per square foot was primarily due to the impact of the 53rd week in 2012, which decreased inventory levels in 
  our full-line stores and included an additional week of sales in 2012. In 2013, we also planned inventory increases in full-line stores to fuel 
  growth in well-performing merchandise categories and increased our pack and hold inventory at Nordstrom Rack. 
  
  **Retail Business Selling, General and Administrative Expenses**
  Retail Business selling, general and administrative expenses (“Retail SG&A”) are summarized in the following table: 
  
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              [html]<thead><tr><td>Fiscal year</td><td>Z014</td><td>Z013</td><td>Z01Z</td></tr></thead><tbody><tr><td>Selling, general and administrative expenses</td><td>$ 3.588</td><td>$ 3.272</td><td>$ 3.172</td></tr><tr><td>Selling, general and administrative expenses as a % of net sales</td><td>27.4 %</td><td>26.9 %</td><td>27.0 %</td></tr></tbody>
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