Blake Nordstrom's Pay Declines In '12

Blake Nordstrom's Pay Declines in '12

Blake Nordstrom saw his cash and total compensation fall last year -- by 29 percent and 34.6 percent, respectively -- as the Seattle-based retailer's operating income fell short of target levels set by its board's compensation committee.

Total compensation fell to $3.9 million from $6 million in 2011, while cash compensation slipped to $1.6 million from $2.3 million, according to the definitive proxy statement Nordstrom Inc. filed with the Securities and Exchange Commission on Monday.

Nordstrom, president of the store that bears his family name, received an increase in salary, up 1.7 percent to $710,000 from $698,000 in 2011 -- while his cash...