Nordstrom's top execs get $7.6M in bonuses after record sales year
Nordstrom's five top-paid executives earned 2010 bonuses totaling $7.6 million after the Seattle-based retailer posted record annual sales...
Seattle Times business reporter
Nordstrom's five top-paid executives earned 2010 bonuses totaling $7.6 million after the Seattle-based retailer posted record annual sales and healthy profits, according to a regulatory filing Monday.
President Blake Nordstrom received a $2.1 million bonus, up from nearly $1.2 million in 2009, while President of Merchandising Peter Nordstrom and President of Stores Erik Nordstrom each garnered nearly $2 million, up from $1.1 million.
Chief Financial Officer Michael Koppel received $849,484, and Chief Administrative Officer Daniel Little received $737,288.
The same five executives earned bonuses totaling $4.5 million in 2009.
Additionally, Blake Nordstrom was paid an annual base salary of $700,000, while Peter and Erik Nordstrom each received $650,000. Those amounts were unchanged from the previous year.
Koppel's base salary rose $70,000 to $600,000, while Little's increased $40,000 to $500,000.
The retailer Feb. 17 reported a fiscal 2010 profit of $613 million, up 39 percent from 2009, on record annual sales of $9.31 billion.
Its stock closed Monday down 23 cents to $45.26. Shares have traded between $28.44 and $47.52 in the past 52 weeks.
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