Pros
Nordstrom is a well respected company and gets your foot in the field of fashion and retail. It gives you the opportunity to learn customer service from one of the best customer service companies. Also it's good if you want to gain sales experience. Bonus of being an intern: meet the Nordstrom brothers, chance to work in the Nordstrom Designer Preview Fashion Show, and good exposure to management.
Cons
Nordstrom doesn't value a college education and getting promoted to corporate (if you want to be a buyer) will take 7-10 years, if you're lucky. During those 7-10 years while you're trying to work your way up, you will be working horrific hours and making little more than minimum wage. And that is for the people with EXTREMELY high sales and strong reviews. For most people, it takes decades to get off the selling floor. With that being said, there is a high turnover rate. For me, I was turned off by being told many times by senior management and store managers that "we don't care that you have a college degree" and that "you definitely don't need to get your MBA, ever."