Word: nordstrom
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...Diller, the transaction will provide QVC with the financial strength to withstand an onslaught of new competition from big department stores like R.H. Macy and Nordstrom, all of which have announced plans to enter the home- shopping business. Combined, QVC and HSN will generate about $147 million in annual cash flow, which would come in handy to finance Diller's dream of taking TV shopping to its next evolutionary stage: making it interactive. An advanced interactive system would let viewers browse through a sort of "video catalog" of a store's merchandise and place orders on-line and on-screen...
...stumbled by getting hooked on growth and expanding far afield from their core business. Sears took its eye off retailing in the 1980s to venture into stocks and bonds and real estate. As Sears diversified, highly focused retailers ate its bread and butter. Wal-Mart offered low prices, while Nordstrom boasted personal service. Now, with its flagship Sears stores in trouble, the company is getting back to basics by selling its Dean Witter brokerage house and most of its Coldwell Banker real estate firm. Sears is not the only respected name to get burned in the financial-services business; Westinghouse...
Some Seattlites suggested that the Nordstrom family buy the Mariners or that Boeing subsidize the team in some way. Most serious baseball fans prayed that the patron saint of Seattle, Microsoft whiz kid Bill Gates, would turn out to have played Little League before turning to computers...
...hype have always been the rulers, and truth the rude beggar at the gate. Americans have long recognized that fact -- and dismissed it. "Oh, I know it probably doesn't do everything they say it does," admits Evelyn, a San Diego secretary, while purchasing some skin cream at a Nordstrom counter. "But it makes my skin look and feel better, so I'll keep buying...
...finding stemmed from a complaint by the United Food and Commercial Workers union that the secret behind Nordstrom's service is grueling pressure to produce sales. The union provided testimony from some former employees who complained of ulcers and 15-hour stretches of work without breaks. Nordstrom acknowledges its hard-driving culture but contends that the claims are exaggerated. Says co-chairman Jim Nordstrom: "Sometimes in an effort to increase production, management may overdo it. We're contest-motivated, and if that puts too much pressure on our people, I'll take the fall on this...