Essay about Nordstrom Executive Memo
This memo will provide a brief history and financial overview of Nordstrom, a high-end, quality clothing store operating in 28 states with more than 200 stores according to Nordstrom’s Business Wire press release on December 2, 2010 (Nordstrom, 2010). Additionally, an overview of the financial information includes specific details from the balance sheet, income statements, and statement of cash flow for 2007 through 2009 and any latest reporting for 2010. The statements are attached for reference.
Wallin & Nordstrom was founded in 1901 by John W. Nordstrom and Carl Wallin as a shoe store in downtown Seattle. John retired in 1928 and Carl a year later, both sold their shares to John’s sons. …show more content…
Total Current Assets for 2009-2010
A balance sheet reports a company’s “assets, liabilities, and stockholder’s equity at a specific date” (Weygandt, 2008, p. 23). Formatting a balance sheet reports should first display the company’s assets at the top, then list its liabilities, and finally, list any stockholder’s equity. Nordstrom’s consolidated balance sheet provides information related to its total current assets for January 31, 2009 and January 30, 2010. During 2009, Nordstrom reports its total current assets as $3,217 million dollars (Nordstrom, 2009, Annual Report, p. 37). On January 30, 2010, Nordstrom reports its total current assets as $4,054 million dollars (Nordstrom, 2009, p. 37).
Largest Reported Assets for 2009-2010
Nordstrom’s consolidated balance sheet reports that on January 31, 2009 its largest assets are land, buildings and equipment worth $2,221 million dollars. Coming in second was accounts receivable that reported an asset of $1,942 million dollars. On January 30, 2010, Nordstrom’s two largest assets were also land buildings, and equipment worth $2,242 million dollars and accounts receivable