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8-K - FORM 8-K - NORDSTROM INCd8k.htm
LOGO    Exhibit 99.1

 

FOR IMMEDIATE RELEASE    INVESTOR CONTACT:    Sandy Fabre

February 3, 2011

      Nordstrom, Inc.
      (206) 233-6563
   MEDIA CONTACT:    Colin Johnson
      Nordstrom, Inc.
      (206) 373-3036

Nordstrom Reports January Sales

SEATTLE, Wash. (February 3, 2011) – Nordstrom, Inc. (NYSE: JWN) today reported a 4.8 percent increase in same-store sales for the four-week period ended January 29, 2011 compared with the four-week period ended January 30, 2010. Preliminary total retail sales of $607 million for January 2011 increased 11.8 percent compared with total retail sales of $543 million for the same period in fiscal 2009.

Fourth quarter same-store sales increased 6.7 percent compared with the same period in fiscal 2009. Preliminary fourth quarter total retail sales of $2.82 billion increased 10.9 percent compared with total retail sales of $2.54 billion for the same period in fiscal 2009.

Fiscal year 2010 same-store sales increased 8.1 percent compared with fiscal 2009. Preliminary fiscal year 2010 total retail sales of $9.31 billion increased 12.7 percent compared with total retail sales of $8.26 billion for fiscal year 2009.

SALES RECORDING

To hear Nordstrom’s pre-recorded January sales message, please dial (402) 220-6036. This recording will be available for one week.

JANUARY SALES RESULTS

(unaudited; $ in millions)

 

    

Total Retail Sales

          

Same-store Sales

 
    

Fiscal

2010 

    

Fiscal

2009 

    

%

Increase

           Total     

Full-line

Stores

     Direct     

 

Multi-channel
(Full-line
Stores and
Direct)

     Rack
Stores
 

January

     $607         $543         11.8%           4.8%         4.6%         6.9%         4.8%         0.3%   

Fourth quarter

     $2,816         $2,539         10.9%           6.7%         5.5%         23.3%         7.2%         3.9%   

Fiscal year

     $9,310         $8,258         12.7%           8.1%         7.9%         25.1%         9.3%         0.7%   

Number of stores

     1/29/11         1/30/10                       

Full-line

     115         112                       

Rack and other

     89         72                       
                                     

Total

     204         184                       
                                     

Gross square footage

     23,838,000         22,773,000                       


FUTURE REPORTING DATES

Nordstrom’s planned financial release calendar for the next three months currently includes:

 

Fourth Quarter Earnings Release    Thurs., February 17, 2011
February Sales Release    Thurs., March 3, 2011
March Sales Release    Thurs., April 7, 2011
April Sales Release    Thurs., May 5, 2011

ABOUT NORDSTROM

Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 204 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 115 full-line stores, 86 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, 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 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; our ability to respond to the business environment and fashion trends; our ability to safeguard our brand and reputation; effective inventory management; efficient and proper allocation of our capital resources; successful execution of our 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; our compliance with applicable banking and related laws and regulations impacting our ability to extend credit to our customers; trends in personal bankruptcies and bad debt write-offs; availability and cost of credit; impact of the current regulatory environment and financial system reforms; changes in interest rates; disruptions in our supply chain; our ability to maintain our relationships with vendors and developers who may be experiencing economic difficulties; the geographic locations of our stores; our ability to maintain relationships with our employees and to effectively train and develop our future leaders; our compliance with information security and privacy laws and regulations, employment laws and regulations and other laws and regulations applicable to us; successful execution of our information technology strategy; successful execution of our 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; our ability to control costs; and the timing and amounts of share repurchases, if any, by the company. Our SEC reports, including our Form 10-K for the fiscal year ended January 30, 2010, and our Form 10-Q for the fiscal quarters ended May 1, 2010, July 31, 2010 and October 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.

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