The company's Series A shares will continue to trade following a reverse stock split while its Series B shares will be delisted.
Nordstrom Appoints Erik Nordstrom as Sole CEO
The retailer has shifted away from its co-president structure.

Seattle—Nordstrom has announced the appointment of a CEO as it moves away from its co-president structure.
The retailer announced in its fourth quarter and fiscal year results that Erik Nordstrom will now serve as the sole CEO of the family company.
Pete Nordstrom, Erik’s brother who formerly held the co-president title with him, will now serve as president of Nordstrom Inc. and chief brand officer.
Both Erik and Pete will continue to serve on Nordstrom’s board of directors.
The two joined their late brother Blake as co-presidents in 2015. Blake died in January 2019 after battling cancer.
Erik Nordstrom stated: “These titles help clarify our respective roles, as we strive to maximize our impact both as individual leaders and as a team. Pete and I continue to be partners in ensuring Nordstrom’s success, and we are both focused on executing our long-term plan. We look forward to continue working with our Board to deliver on our shared vision for the future of Nordstrom.”
In its full year results, the company said net earnings were down 12 percent to $496 million compared with $564 million in fiscal 2018.
Net sales in its full-price division decreased nearly 4 percent during the year while its off-price was basically flat in net sales.
Digital sales, meanwhile, grew 7 percent and represented 33 percent of sales.
The Latest

Communicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.

The “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.


Two scholarships are available, one for new and non-members and another for NAJA certified members.

The retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.

Supplier Spotlight Sponsored by GIA

Sapphires, emeralds, and rubies are finding their place in a U.S. market captivated by the gemstones once referred to as “semi-precious.”

Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.

Peter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.

The necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.

Sponsored by the Las Vegas Antique Jewelry and Watch Show

A private American collector purchased the 10-carat fancy vivid blue diamond.

The designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.

The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.

Around 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.

The event is also accepting poster submissions now through June 16.

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.

The donation was the result of the brand’s annual Earth Day Ingot event.

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

The nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.