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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) January 8, 2009
NORDSTROM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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WASHINGTON
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001-15059
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91-0515058 |
(STATE OR OTHER JURISDICTION
OF INCORPORATION)
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(COMMISSION FILE
NUMBER)
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(I.R.S. EMPLOYER
IDENTIFICATION NO.) |
1617 SIXTH AVENUE, SEATTLE, WASHINGTON 98101
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANTS TELEPHONE NUMBER, INCLUDING AREA CODE (206) 628-2111
INAPPLICABLE
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 7.01 |
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REGULATION FD DISCLOSURE |
On
January 8, 2009, Nordstrom, Inc. issued a press release announcing its preliminary December 2008 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.
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NORDSTROM, INC.
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By: |
/s/ Michael G. Koppel
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Michael G. Koppel |
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Executive Vice President and
Chief Financial Officer |
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Dated: January 8, 2009
EXHIBIT INDEX
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EXHIBIT |
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NUMBER |
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DESCRIPTION |
99.1
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Nordstrom December 2008 Preliminary Sales Release, dated
January 8, 2009. |
exv99w1
Exhibit 99.1
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FOR IMMEDIATE RELEASE
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INVESTOR CONTACT:
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Chris Holloway |
January 8, 2009
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Nordstrom, Inc. |
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(206) 303-3290 |
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MEDIA CONTACT:
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Brooke White |
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Nordstrom, Inc. |
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(206) 373-3030 |
NORDSTROM REPORTS DECEMBER SALES
SEATTLE, Wash. (January 8, 2009) Nordstrom, Inc. (NYSE: JWN) today reported preliminary
sales of $1.13 billion for the five-week period ended January 3, 2009, a decrease of 8.0 percent
compared with sales of $1.22 billion for the five-week period ended January 5, 2008. Same-store
sales for December decreased 10.6 percent compared with the same period in fiscal 2007.
Preliminary quarter-to-date sales of $1.83 billion decreased 9.6 percent compared with sales
of $2.03 billion during the same period in fiscal 2007. Quarter-to-date same-store sales decreased
12.7 percent compared with the same period in fiscal 2007.
Preliminary year-to-date sales of $7.80 billion decreased 6.5 percent compared with sales of
$8.34 billion for the same period in fiscal 2007. Year-to-date same-store sales decreased 8.9
percent compared with the same period in fiscal 2007.
While
sales trends have been challenging, Nordstroms holiday sales
performance exceeded its expectations. The company continues to make
the appropriate inventory adjustments and expects inventory levels to
be more aligned with current sales trends by the end of the fiscal
year. As a result of higher than expected competitive markdown
pressure across the industry, the company now expects that its
earnings per share for the fourth quarter will not meet its
previously announced outlook of $0.35 to $0.45.
Sales Recording
To hear Nordstroms pre-recorded December sales message, please dial 800-891-8250 or
402-220-6036. This recording will be available for one week.
DECEMBER SALES RESULTS
(unaudited; $ in millions)
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Total Sales |
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Same-store Sales2 |
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Percent |
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Fiscal |
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Fiscal |
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Increase/ |
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Full-line |
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Rack |
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2008 |
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20071 |
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(Decrease) |
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Total |
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Stores |
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Stores |
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December |
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$ |
1,125 |
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$ |
1,223 |
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(8.0 |
%) |
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(10.6 |
%) |
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(12.8 |
%) |
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(1.8 |
%) |
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Quarter-to-date |
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$ |
1,833 |
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$ |
2,028 |
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(9.6 |
%) |
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(12.7 |
%) |
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(15.3 |
%) |
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(1.3 |
%) |
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Year-to-date |
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$ |
7,803 |
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$ |
8,342 |
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(6.5 |
%) |
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(8.9 |
%) |
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(12.1 |
%) |
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3.5 |
% |
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Number of stores |
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1/03/09 |
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1/05/08 |
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Full-line |
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109 |
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101 |
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Rack and other |
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60 |
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55 |
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Total |
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169 |
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156 |
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Gross square footage |
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21,876,000 |
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20,502,000 |
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1 |
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Fiscal 2007 year-to-date total sales results include sales from the companys domestic
Façonnable boutiques through October 31, 2007 and sales from the companys international and
wholesale Façonnable business through August 31, 2007.
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2 |
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Same-store sales results exclude sales from Façonnable. |
Future Reporting Dates
Nordstroms financial release calendar for the next three months is currently planned as
follows:
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January Sales Release
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Thurs., February 5, 2009
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Fourth Quarter Earnings Release
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Mon., February 23, 2009 |
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February Sales Release
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Thurs., March 5, 2009 |
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March Sales Release
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Thurs., April 9, 2009 |
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Nordstrom, Inc. is one of the nations leading fashion specialty retailers, with 169 stores
located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 109
full-line stores, 56 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores. In
addition, Nordstrom serves customers through its online presence at http://www.nordstrom.com and
through its catalogs. Nordstrom, Inc. 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), including the companys
expected monthly financial result and anticipated earnings results for the fourth quarter. Such
statements are based upon the current beliefs and expectations of the companys 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 companys ability to respond to the business environment and
fashion trends, the competitive pricing environment within the retail sector, effective inventory
management, the effectiveness of planned advertising, marketing, and promotional campaigns,
successful execution of the companys 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 companys compliance with applicable banking
and related laws and regulations impacting the companys ability to extend credit to its customers,
the companys 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 companys multi-channel strategy, the companys ability to safeguard its brand and
reputation, efficient and proper allocation of the companys capital resources, successful
execution of the companys technology strategy, trends in personal bankruptcies and bad debt
write-offs, availability and cost of credit, changes in interest rates, the companys ability to
maintain its relationships with its employees and to effectively train and develop its future
leaders, the companys ability to control costs, risks related to fluctuations in world currencies,
weather conditions and hazards of nature that affect consumer traffic and consumers purchasing
patterns, and the timing and amounts of share repurchases by the company. For additional
information regarding these and other risk factors, please refer to the companys SEC reports,
including its Form 10-K for the fiscal year ended February 2, 2008 and its Form 10-Q for the fiscal
quarter ended November 1, 2008. 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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