Erik Nordstrom Talks About the Amazon Effect on Nordstrom

A new men's store debuts in New York City, a first for the Seattle-based retailer.
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Erik Nordstrom, one of three co-presidents of the retailer Nordstrom Inc. (JWN) - Get Report , knows the strengths of his company. He also knows well the difference between Amazon.com Inc. (AMZN) - Get Report and a department store chain.

We are about fashion, he said, and Amazon, which is great at what it does, sells everything.

Nordstrom, who shares the co-presidency with brothers Blake and Pete, was in New York for the opening of the company's first stand-alone men's store, located right off Columbus Circle in New York City. The three-level 47,000-square-foot store opened on Thursday, April 12, and offers everything from Balenciaga haute couture to Vans footwear.