- --------------------------------------------------------------------------- ------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------------------------------------------- FORM 8-K ----------------------------------------------------------- CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE THE SECURITIES EXCHANGE ACT OF 1934 ------------------------------------------------------------ DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) November 6, 2003 ------------------------------------------------------------ NORDSTROM, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) ------------------------------------------------------------ WASHINGTON 0-6074 91-0515058 (STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER OF INCORPORATION) NUMBER) IDENTIFICATION NO.) 1617 SIXTH AVENUE, SEATTLE, WASHINGTON 98101 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) ----------------------------------------------------------- REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (206) 628-2111 ------------------------------------------------------------ INAPPLICABLE (FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT) ---------------------------------------------------------------------- ------------------------------------------------- ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS (C) EXHIBITS 99.1 Nordstrom October 2003 Preliminary Sales Release, dated November 6, 2003. ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On November 6, 2003, Nordstrom, Inc. issued a press release announcing its preliminary October 2003 sales. A copy of this press release is attached as Exhibit 99.1. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NORDSTROM, INC. By: /s/ Michael G. Koppel ----------------------- Michael G. Koppel Executive Vice President and Chief Financial Officer Dated: November 6, 2003 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION 99.1 Nordstrom October 2003 Preliminary Sales Release, dated November 6, 2003.
Exhibit 99.1 For Immediate Release - --------------------- November 6, 2003 NORDSTROM REPORTS OCTOBER SAME-STORE SALES INCREASE OF 3.5% ----------------------------------------------------------- SEATTLE - November 6, 2003 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $454.4 million for the four-week period ending November 1, 2003, an increase of 6.7 percent compared to sales of $425.8 million for the four-week period ending November 2, 2002. Same-store sales increased 3.5 percent. October same-store sales in full-line stores increased in all geographic regions. By merchandise category, same store sales increased in Cosmetics, Accessories, Shoes, Men's Wear and Women's Designer Apparel. Preliminary third quarter sales of $1,420.6 million increased 9.8 percent compared to third quarter 2002 sales of $1,293.5 million. Third quarter same- store sales increased 5.0 percent. Preliminary year-to-date sales of $4.5 billion increased 7.2 percent compared to year-to-date 2002 sales of $4.2 billion. Year-to-date same-store sales increased 2.6 percent. SALES RECORDING To hear Nordstrom's prerecorded October sales message, please dial (402) 220- 6036. This recording will be available for one week. GAAP SALES PERFORMANCE The additional information provided in this section is to comply with the Securities and Exchange Commission's Regulation G. The Company converted to a 4-5-4 Retail Calendar at the beginning of 2003. This change in the fiscal calendar has resulted in differences in the number of days included in the current period versus the same period in the prior year. Sales performance numbers included in this sales release have been calculated on a comparative 4-5-4 basis. The Company believes that adjusting for these differences provides a more comparable basis (4-5-4 vs. 4-5-4) from which to evaluate sales performance. The following reconciliation bridges 2002 GAAP sales to the 4-5-4 comparable sales.
Dollar Increase/ % Change % Change Sales Reconciliation ($M) October 2003 October 2002 (Decrease) Total Sales Comp Sales --------- --------- ---------- ----------- ---------- Number of Days GAAP 28 31 GAAP Sales $454.4 $462.1 ($7.7) (1.7%) (4.2%) Less Oct. 1-5, 2002 sales ($79.5) Plus Nov. 1-2, 2002 sales $43.2 Reported 4-5-4 sales $454.4 $425.8 $28.6 6.7% 3.5% ========= ========= 4-5-4 Adjusted Days 28 28
Dollar % Change % Change Sales Reconciliation ($M) QTD 2003 QTD 2002 Increase Total Sales Comp Sales -------- -------- ---------- ----------- ---------- Number of Days GAAP 91 92 GAAP Sales $1,420.6 $1,323.2 $97.4 7.4% 2.5% Less Aug. 1-3, 2002 sales - ($72.9) Plus Nov. 1-2, 2002 sales - $43.2 Reported 4-5-4 sales $1,420.6 $1,293.5 $127.1 9.8% 5.0% ======== ======== 4-5-4 Adjusted Days 91 91
Dollar % Change % Change Sales Reconciliation ($M) YTD 2003 YTD 2002 Increase Total Sales Comp Sales -------- -------- ---------- ----------- ---------- Number of Days GAAP 274 273 GAAP Sales $4,559.3 $4,224.5 $334.8 7.9% 2.9% Less Feb. 1, 2003 sales ($18.2) - Less Feb. 1-2, 2002 sales - ($30.4) Plus Nov. 1-2, 2002 sales - $43.2 Reported 4-5-4 sales $4,541.1 $4,237.3 $303.8 7.2% 2.6% ======== ======== 4-5-4 Adjusted Days 273 273 FUTURE REPORTING DATES Nordstrom's financial release calendar for the next several months is provided in the table below. Third Quarter Earnings Thurs., November 20, 2003 November Sales Release Thurs., December 4, 2003 December Sales Release Thurs., January 8, 2004 January Sales Release Thurs., February 5, 2004 Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 147 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 91 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and one clearance store. Nordstrom also operates 31 international Faconnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs. Investor Contact: Stephanie Allen, 206-303-3262 Media Contact: Shasha Richardson, 206-373-3038 Certain statements in this news release might contain "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including anticipated results, store openings and distribution channels, planned capital expenditures, and trends in company operations. Actual future results and trends may differ materially from historical results or current expectations depending upon factors including, but not limited to, the company's ability to predict fashion trends, consumer apparel buying patterns, the company's ability to control costs, weather conditions, hazards of nature such as earthquakes and floods, trends in personal bankruptcies and bad debt write-offs, changes in interest rates, employee relations, the company's ability to continue its expansion plans, and the impact of economic and competitive market forces, including the impact of terrorist activity or the impact of a war on the company, its customers and the retail industry. Our SEC reports may 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. ###
SALES SUMMARY (unaudited; $ in millions) Oct. Oct. QTD QTD YTD YTD 2003 2002 2003 2002 2003 2002 ---- ---- ---- ---- ---- ---- Total sales $454.4 $425.8 $1,420.6 $1,293.5 $4,541.1 $4,237.3 Total sales percentage change 6.7% 12.8% 9.8% 7.8% 7.2 % 5.7% Same-store sales percentage change 3.5% 9.6% 5.0% 3.7% 2.6% 1.3% Number of stores (as of November 1, 2003) Full-line 91 88 Rack and other 56 55 International Faconnable boutiques 31 23 --- --- Total 178 166 Gross square footage 19,011,000 18,428,000