Nordstrom Will Spend $1 Billion to Upgrade eCommerce
According to its current five-year plan, Nordstrom will spend 30% of its $3.3 billion capital expenditure budget on upgrades to its e-commerce operations, representing roughly $1 billion in spending.
Related: Nordstrom Reports Q4, Fiscal Year 2011 Earnings
Chief Financial Officer Michael Koppel described the company’s capex plans in a conference call with investors late last week. Beyond its five-year spending projections, Koppel says Nordstrom plans to spend more than $140 million in 2012 to upgrade its e-commerce platforms.
In 2011, Nordstrom saw a 30% over-the-year increase in direct sales. (Nordstrom Direct is essentially the company’s e-commerce unit.) The company added 400 employees to its e-commerce operations over the course of the year, and also launched new apps for iPhones and Android devices.
Nordstrom’s total sales for 2011 were $10 billion.
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