Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NORDSTROM INC | v55740e8vk.htm |
Exhibit 99.1
FOR
IMMEDIATE RELEASE May 6, 2010 at 5:28 a.m. PDT |
INVESTOR CONTACT: | Sandy Fabre Nordstrom, Inc. |
||
| (206) 303-3278 | ||||
| MEDIA CONTACT: | Colin Johnson | |||
| Nordstrom, Inc. | ||||
| (206) 373-3036 |
NORDSTROM REPORTS APRIL SALES
SEATTLE, Wash. (May 6, 2010) — Nordstrom, Inc. (NYSE: JWN) today reported a 7.5 percent
increase in same-store sales for the four-week period ended May 1, 2010 compared with the four-week
period ended
May 2, 2009. Preliminary total retail sales of $636 million for April 2010 increased 13.3 percent
compared with total retail sales of $561 million for the same period in fiscal 2009.
First quarter same-store sales increased 12.0 percent compared with the same period in fiscal
2009. Preliminary first quarter total retail sales of $1.99 billion increased 16.7 percent compared
with total retail sales of $1.71 billion for the same period in fiscal 2009.
Sales
Recording
To hear Nordstrom’s pre-recorded April sales message, please dial (402) 220-6036. This
recording will be available for one week.
April Sales Results
(unaudited; $ in millions)
(unaudited; $ in millions)
| Total Retail Sales | Same-store Sales | |||||||||||||||||||||||||||||||
| Multi-channel | ||||||||||||||||||||||||||||||||
| Fiscal | Fiscal | % | Full-line | (Full-line Stores | ||||||||||||||||||||||||||||
| 2010 | 2009 | Increase | Total | Stores | Direct | and Direct) | Rack Stores | |||||||||||||||||||||||||
April |
$ | 636 | $ | 561 | 13.3 | % | 7.5 | % | 6.5 | % | 32.1 | % | 8.4 | % | (1.8 | %) | ||||||||||||||||
First Quarter |
$ | 1,990 | $ | 1,706 | 16.7 | % | 12.0 | % | 11.7 | % | 38.7 | % | 13.7 | % | 1.9 | % | ||||||||||||||||
Number of stores |
5/1/10 | 5/2/09 | ||||||||||||||||||||||||||||||
Full-line |
114 | 111 | ||||||||||||||||||||||||||||||
Rack and other |
78 | 64 | ||||||||||||||||||||||||||||||
Total |
192 | 175 | ||||||||||||||||||||||||||||||
Gross
square
footage |
23,289,000 | 22,336,000 | ||||||||||||||||||||||||||||||
Expansion Update
In April, Nordstrom opened a full-line store at Fashion Island in Newport Beach, Calif.
Nordstrom also opened two Nordstrom Rack stores at Shoppers World in Framingham, Mass. and Buckhead
Station in Atlanta, Ga.
In May, Nordstrom plans to relocate and expand a full-line store at Los Cerritos Center in
Cerritos, Calif. to a new location in the Center. Nordstrom also plans to open a Nordstrom Rack
store at One Union Square South in New York, N.Y.
Future
Reporting Dates
Nordstrom’s planned financial release calendar for the next three months
currently includes:
First Quarter Earnings Release
|
Thurs., May 13, 2010 | |
May Sales Release
|
Thurs., June 3, 2010 | |
June Sales Release
|
Thurs., July 8, 2010 | |
July Sales Release
|
Thurs., August 5, 2010 |
Annual Meeting of
Shareholders
Nordstrom will hold its 2010 Annual Meeting of Shareholders on Tuesday, May
18, 2010, at 11:00 a.m. Pacific Daylight Time. The meeting will be held in the John W. Nordstrom
Room, Downtown Seattle Nordstrom, 1617 Sixth Avenue, 5th Floor, Seattle, Washington.
About
Nordstrom
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 192 stores
located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 114
full-line stores, 75 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also
serves customers through its online presence at www.nordstrom.com and through its catalogs.
Nordstrom, Inc’s common stock is publicly traded on the NYSE under the symbol JWN.
Certain statements in this news release contain or may suggest “forward-looking”
information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks
and uncertainties, including, but not limited to, anticipated store openings and trends in company
operations. Such statements are based upon the current beliefs and expectations of the company’s
management and are subject to significant risks and uncertainties. Actual future results and trends
may differ materially from historical results or current expectations depending upon factors
including, but not limited to the impact of deteriorating economic and market conditions and the
resultant impact on consumer spending patterns, the company’s ability to respond to the business
environment and fashion trends, the company’s ability to safeguard its brand and reputation,
effective inventory management, efficient and proper allocation of the company’s capital resources,
successful execution of the company’s store growth strategy including the timely completion of
construction associated with newly planned stores, relocations and remodels, all of which may be
impacted by the financial health of third parties, the company’s compliance with applicable banking
and related laws and regulations impacting the company’s ability to extend credit to its customers,
trends in personal bankruptcies and bad debt write-offs, availability of consumer credit, impact of
the current regulatory environment and financial system reforms, changes in interest rates,
disruptions in the company’s supply chain, the company’s ability to maintain its relationship with
vendors who may be experiencing economic difficulties, the geographic locations of the company’s
stores, the company’s ability to maintain its relationships with its employees and to effectively
train and develop its future leaders, the company’s compliance with information security and
privacy laws and regulations, employment laws and regulations and other laws and regulations
applicable to the company, successful execution of the company’s information technology strategy,
successful execution of the company’s multi-channel strategy, risks related to fluctuations in
world currencies, public health concerns and the resulting impact on consumer spending patterns,
supply chain, and employee health, weather conditions and hazards of nature that affect consumer
traffic and consumers’ purchasing patterns, the effectiveness of planned advertising, marketing,
and promotional campaigns, and the company’s ability to control costs. Our SEC reports, including
our Form 10-K for the fiscal year ended January 30, 2010, contain other information on these and
other factors that could affect our financial results and cause actual results to differ materially
from any forward-looking information we may provide. The company undertakes no obligation to update
or revise any forward-looking statements to reflect subsequent events, new information or future
circumstances.
###