Erik Nordstrom on Nordstrom Rack
From Nordstrom, Inc. $JWN Q3 2022 Earnings Call · · Earnings Call
“We do continue to see traction in our Rack strategies — this quarter marked the third consecutive quarter of sequential improvement versus pre‑pandemic, and sales of our top 100 brands at the Rack increased 9%, which underscores the growth opportunity from increasing our supply of premium brands.”
On , Erik Nordstrom, Chief Executive Officer & Director at NORDSTROM INC, spoke about Nordstrom Rack during Nordstrom, Inc. $JWN Q3 2022 Earnings Call on Earnings Call.
About Erik Nordstrom
In a May 2026 podcast appearance, Pete Nordstrom discussed Nordstrom's transition to private ownership, which was completed in May 2025. He stated that being a public company was a "morale buster" because the stock price did not always reflect strong performance. Nordstrom also noted that the company is opening 25 Rack stores in 2026 and aims to build the capability to open even more annually. He described the Saks-Neiman Marcus merger as creating an opportunity for Nordstrom to strengthen relationships with brand partners, particularly in the designer and luxury segment. Nordstrom was candid about past missteps, calling the company's expansion into Canada his generation's "biggest black eye" and expressing skepticism about international expansion, noting that no department store has succeeded outside its home country. He emphasized that less than 10% of Nordstrom's sales come from its own labels, and that the company relies on maintaining trust with top brands through consistent leadership and execution.