Nordstrom, Inc. is a well-known American fashion retailer that has been around since 1901. Over the past century, the company’s stock price has experienced a variety of highs and lows. From its early days of growth and expansion to its more recent struggles and successes, Nordstrom’s stock price history reflects the company’s changing fortunes.
Early Days: 1901 to 1930
Nordstrom was founded by John W. Nordstrom and Carl F. Wallin in 1901 in Seattle, Washington. At the time, the company focused on selling shoes, but it eventually expanded to include clothing, jewelry, and other accessories. Nordstrom went public in 1971 and its stock was first traded on the Nasdaq exchange.
In the early days of Nordstrom, the company’s stock price was relatively stable. From 1901 to 1930, the stock price remained fairly consistent, hovering around $20 per share. During this time, Nordstrom focused primarily on growth and expansion, opening new stores and increasing its presence in the retail industry.
Growth and Success: 1931 to 1980
Nordstrom’s stock price began to increase in the 1930s, as the company experienced rapid growth and success. During this time, Nordstrom opened several new stores and expanded its product offerings. By the end of the decade, the company’s stock price had increased to around $50 per share.
The company continued to experience success in the 1940s and 1950s, with the stock price reaching an all-time high of $85 per share in 1950. During this time, Nordstrom opened several new stores in major cities across the United States. The company also continued to expand its product offerings and develop new marketing strategies.
In the 1960s and 1970s, Nordstrom’s stock price remained relatively stable, hovering around $50 per share. During this time, the company continued to open new stores and expand its product offerings. However, the company’s stock price began to decline in the late 1970s, as the retail industry began to experience a downturn.
The 1980s: Financial Troubles and a Return to Success
In the 1980s, Nordstrom’s stock price experienced a dramatic decline as the company struggled to cope with financial troubles. The company’s stock price dropped to a low of $5 per share in 1985. In response to the financial difficulties, the company implemented a series of cost-cutting measures and restructured its operations.
The company’s stock price began to increase in the late 1980s and early 1990s, as Nordstrom recovered from its financial troubles and returned to success. By 1994, the stock price had recovered to around $30 per share. During this time, the company continued to open new stores and expand its product offerings.
Recent Years: The Return to Highs
Nordstrom’s stock price has experienced a steady increase over the past two decades. In 2003, the stock price reached an all-time high of $72 per share. Since then, the stock price has continued to increase, reaching a new high of $88 per share in 2017.
In recent years, Nordstrom has continued to focus on growth and expansion. The company has opened new stores, expanded its product offerings, and invested in digital technology. As a result, Nordstrom’s stock price has continued to increase, reaching a new high of $96 per share in 2021.
Conclusion
Nordstrom’s stock price has experienced a variety of highs and lows over the past century. From its early days of growth and expansion to its more recent struggles and successes, Nordstrom’s stock price history reflects the company’s changing fortunes. While the company has experienced some difficult times in the past, Nordstrom’s stock price is currently experiencing a period of growth and success.