Please reword the writing below. Please keep the format as it is:

Analysis of the gross profit margin for Nordstrom, Macys, Kohls, Target, and Walmart explains the companies different strategies in terms of product mix, customer base, and markup strategies.

Nordstrom has the highest gross profit margin out of all the companies in Exhibit 1 within the time frame of 2003-2013. Within their stores they sell designer bags, shoes, and accessory to an upper class target market. To entice their target market they focus on beauty and presentation within their stores. The overhead cost to customize their stores to be beautiful and clean is more expensive than other competitors in the retail industry. The company has the highest gross profit margin to cover cost that include overhead expenses, purchasing of high-end products, and inventory management. Their strategy is to have high market-up on products to be able to cover cost and attract a higher-end customer base.

In contrast, Walmart has the lowest gross profit margin out of all of the companies in Exhibit 1. Walmarts low gross profit margin is to compete for the lowest prices. Walmart focuses on selling competitively priced goods which include commodities, electronics, phone plans, clothing, shoes, jewelry, and much more. Since commodities, such as food, have very little differentiation between producers and retail stores Walmart stays competitive by selling commodities at the lowest prices with little markup. Their customer base are lower and middle class consumers whom need low prices and a one stop shop to get everything they need. The stores, unlike Nordstrom, are a low-maintenance warehouse that cost less to maintain. Walmart has the lowest gross profit to stay competitive, and attract the lower-end target market.

In comparison, Targets gross profit margin is higher than Walmarts, yet the difference between them have decreased from 2003-2013. In Exhibit 1, Target and Walmarts Gross Profit Margin is shrinking in differences. Targets Gross profit margin started to decrease in 2008 due to their attempt to be more like Walmart. In 2008 Target started to add groceries to their product mix. Since groceries are a commodity its difficult to have a high profit margin when selling those goods. From 2008 to 2013 Targets GPM declined approximately 3%. Target also wanted to make their store a one stop shop where people can buy everything they need there and not go to Walmart. Target has always competed with Walmarts prices. At the beginning of 2013 Targets GPM was only 4% higher than Walmarts GPM; whereas, in Jan 2003 Targets GPM was about 8% higher than Walmarts GPM. By selling groceries their markup strategies for those products are similar which explains the difference in GMP between the two retailers has decreased from Jan 2003-Jan 2013.

Kohls Gross Profit Margin is higher than Target and Walmarts because they have a different customer base, product mix, and a different markup strategy. Kohl's targets middle income shoppers by offering low retail prices on higher end brands. Kohls product mix includes clothes, jewelry, shoes, toys and home goods; however, they do not sell groceries. Since they sell only non-perishable goods (such as clothing) inventory management is more costly than Target and Walmart. They have had a higher mark-up strategy from 2003-2011 to cover these cost. As seen in Exhibit 1 Kohls Gross Profit Margin declined in 2012-2013 due to a markup strategy to lower cost and boost sales, and were unsuccessful.

Macys Gross profit margin is higher than Walmart, Target, and Kohls due to their higher quality product mix and customer base. Macys is more upscale than Walmart, Target and Kohls. They sell the most wanted brands such as Calvin Klein and Tommy Hilfiger. Their higher-end brands gives them a competitive advantage because they can have high markups and customers will still purchase products. According to Exhibit 1 Macys GMP has declined in 2003-2013 a little over 1%. The decrease started in 2005 and leveled during 2009 to 2013.