Nordstrom March Same-Store Sales Increase 15.9 Percent

SEATTLE, Apr 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $620.8 million for the five-week period ending April 3, 2004, an increase of 19.8 percent compared to sales of $518.2 million for the five-week period ending April 5, 2003. Same-store sales increased 15.9 percent.

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March same-store sales in full-line stores increased in all geographic regions and all merchandise categories.

Preliminary quarter-to-date sales of $1.1 billion increased 18.8 percent compared to sales of $0.9 billion in 2003. Quarter-to-date same-store sales increased 14.9 percent.


Based on quarter-to-date sales and gross profit performance, the Company is now expecting first quarter earnings per share to exceed prior guidance of $0.23 to $0.28. As a percent to sales, quarter to date gross profit is trending over 200 basis points higher than the prior year.


To hear Nordstrom's prerecorded March sales message, please dial 402-220-6036. This recording will be available for one week.


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. The first quarter of 2003 includes one more day than the first quarter of 2004. The Company believes that adjusting for this difference provides a more comparable basis from which to evaluate sales performance. The following reconciliation bridges the quarter-to-date 2003 GAAP sales to the 4-5-4 comparable sales.

                                                            % Change % Change
                          QTD         QTD        Dollar     Total     Comp
    Sales                 2003        2004       Increase    Sales     Sales
     Reconciliation ($M)
    Number of Days GAAP      64           63
    GAAP Sales           $903.8     $1,052.1      $148.3      16.4%    12.5%
    Less Feb. 1, 2003
     sales              ($18.2)           --
    Reported 4-5-4
     sales               $885.6     $1,052.1      $166.5      18.8%    14.9%
    4-5-4 Adjusted Days      63           63


Nordstrom's financial release calendar for the next several months is provided in the table below.

               April Sales Release           Thurs., May 6, 2004
               First Quarter Earnings        Thurs., May 20, 2004
               Annual Meeting                Tues., May 25, 2004
               May Sales Release             Thurs., June 3, 2004

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 149 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 93 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 and through its direct mail catalogs.

    SALES SUMMARY             Mar.         Mar.          QTD          QTD
    (unaudited;               2004         2003         2004         2003
    $ in millions)
    Total sales             $620.8       $518.2     $1,052.1       $885.6
    Total sales percentage
     change                  19.8%         2.9%        18.8%         2.7%
    Same-store sales
     percentage change       15.9%       (1.7%)        14.9%       (1.9%)

    Number of stores
     (as of April 3, 2004)
    Full-line                   93           89
    Rack and other              56           54
     Faconnable boutiques       31           24
    Total                      180          167
    Gross square
     footage            19,289,000   18,613,000

    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.

SOURCE Nordstrom, Inc.

Investor, Stephanie Allen,
+1-206-303-3262, or
Media, Shasha Richardson,
both of Nordstrom, Inc.