Peter Nordstrom on growth strategy
From Pete Nordstrom: From public to private, Nordstrom’s gains momentum · · The Retail Pilot - Leaders & Legends Podcast
“Over the next five years, the number one thing would be the rack expansion. We're been pretty aggressive on that and that's that's worked well. There there's a lot of headroom there for us. I think we're opening 25 this year. And you know, part of that is building the muscle where we could open even more than that in one year. I mean, that that's that's a skill. That's an experience that you need to have, a capability you need to have. I I think we'd like to be in a position where we can move even faster. I mean, maybe someday we can about 50 stores a year.”
On , Peter Nordstrom, President, Chief Brand Officer & Director at NORDSTROM INC, spoke about growth strategy during Pete Nordstrom: From public to private, Nordstrom’s gains momentum on The Retail Pilot - Leaders & Legends Podcast.
About Peter Nordstrom
In a series of podcast appearances in April and May 2026, Pete Nordstrom discussed Nordstrom's transition to private ownership, completed in May 2025, and the company's strategic direction. He described the public company model as a "morale buster," noting that the company's stock price was low despite strong business performance, which he characterized as being "the best house in a bad neighborhood." Nordstrom stated that going private has changed governance and reduced time spent on compulsory public company requirements. He said the company vetted multiple options, including private equity and strategic partners, before selecting a partnership with Liverpool. Nordstrom addressed several operational topics. He said Nordstrom is opening 25 Rack stores in the current year and expressed interest in building the capability to open more. He compared the Rack's potential to TJ Maxx's 2,500 stores, suggesting Nordstrom could eventually have 300 to 500 Rack locations. On the Saks-Neiman Marcus merger, Nordstrom said it created an opportunity for Nordstrom to strengthen relationships with luxury brands. He described the company's failed Canada expansion as a "biggest black eye" and said that, given a "do-over," the company would not have entered Canada. On downtown Seattle, Nordstrom said the company does less business and makes less money there while paying more taxes, adding that the company wants to see returns on those taxes. He also said it is "quite likely" that in the foreseeable future there will not be a Nordstrom serving as CEO.